You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today announced a 2021 second-quarter dividend on its Preferred Stock Series B of $0.4828722 per share. The company also announced a 2021 second-quarter dividend on its common stock of $0.03 per share. Both common stock and preferred stock dividends will be paid on June 15, 2021, to the respective stockholders of record at the close of business on June 4, 2021. Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Category: Corporate and Financial

Answer: Sallie Mae Declares Dividends on Preferred Stock Series B and Common Stock