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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2012
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SUBSEQUENT EVENTS |
NOTE 14 — SUBSEQUENT EVENTS Dividend Payout In April 2012, the Company declared the payment of second quarter dividends of $20.00 per share on the Company’s Series A preferred stock. The dividend is payable on or about May 1, 2012 to shareholders of record as of April 15, 2012. Additionally, the Company declared a quarterly dividend of $0.10 per share on the Company’s common stock payable on or about May 24, 2012 to shareholders of record as of May 10, 2012. Loan Sale On April 13, 2012, a major investment brokerage firm exercised its option and the Company entered into a loan sale transaction, selling approximately $150.0 million of student loans with a related gain of $5.1 million. These loans were held for sale as of March 31, 2012. Stock Repurchase Subsequent to March 31, 2012, the Company repurchased approximately $13.7 million worth of common stock, pursuant to the Stock Repurchase Plan approved in January 2012.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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