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November 8, 2012
18:50 EDTNNINelnet declares special dividend of $1 per share
Nelnet's board declared a cash dividend on the company's outstanding shares of Class A and Class B common stock of $1.10 per share. The dividend consists of a regular quarterly dividend of 10c per share, and a special cash dividend of $1 per share. Both dividends will be paid on November 27 to shareholders of record at the close of business on November 19.
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September 29, 2015
19:46 EDTNNINavient falls after government report criticizes student loan servicers
Shares of student loan stock Navient (NAVI) fell over 4% on Tuesday after the Consumer Financial Protection Bureau, or CFPB, released a report critical of student loan servicers, titled 'Student loan servicing: Analysis of public input and recommendations for reform.' WHAT'S NEW: The CFPB's 152-page report cited issues such as conflicting, incomplete, or inaccurate loan statements; missing or ignoring specific payoff instructions which would apply payments to higher interest loans; and servicing transfers resulting in processing problems, surprise fees, damaged credit, lost repayment benefits and loan records, among other issues. WHAT'S NOTABLE: CFPB Director Richard Cordray said in a statement, "With one out of four student loan borrowers struggling to repay their loans or already in default, cleaning up the servicing market is critical. Today's report underscores the need for market-wide student loan servicing reforms to halt harmful practices and boost assistance for distressed borrowers." PRICE ACTION: Shares of Navient dropped 53c, or 4.36%, to $11.63 in Tuesday's trading session. PEERS: Other student loan servicers include First Marblehead (FMD), which fell 3.4%, SLM Corporation (SLM), which declined 0.86%, and Nelnet (NNI), which was up fractionally.

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