PHILADELPHIA, April 17 /PRNewswire-FirstCall/ -- Sovereign Bancorp,
Inc. ("Sovereign") (NYSE: SOV), parent company of Sovereign Bank, announced
today that its Board of Directors has declared a regular quarterly cash
dividend of $.08 per share on its common stock. The cash dividend is
payable on May 15, 2007 to shareholders of record on May 1, 2007.
In addition to the common stock cash dividend, dividends were also
declared on Sovereign's Preferred Stock, Capital Trust V Securities and
Capital Trust III. A dividend payment of $0.45625 per depositary share is
payable on May 15, 2007 to holders of record on May 1, 2007 for the
Sovereign Series C Non-Cumulative Perpetual Preferred Stock (NYSE: SOVPRC).
A dividend of $0.484375 is payable on May 15, 2007 to holders of record on
May 14, 2007 for the Sovereign Capital Trust V Securities (NYSE: SOVPRB).
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), the parent company
of Sovereign Bank, is a $90 billion financial institution with nearly 800
community banking offices, over 2,000 ATMs and approximately 12,000 team
members with principal markets in the Northeast United States. Sovereign
offers a broad array of financial services and products including retail
banking, business and corporate banking, cash management, capital markets,
wealth management and insurance. Sovereign is the 17th largest banking
institution in the United States. For more information on Sovereign Bank,
visit <http://www.sovereignbank.com> or call 1-877-SOV-BANK
Note: "Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995. Statements in this press release regarding Sovereign
Bancorp's business which are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion of such
risks and uncertainties, which could cause actual future events to differ
from those contained in the forward-looking statements, see
"Forward-Looking Statements" in the Company's Annual Report on Form 10-K
for the most recently ended fiscal year.
SOURCE Sovereign Bancorp, Inc.
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Related links:
http://www.sovereignbank.com
CONTACT:
Financial, Mark McCollom, +1-610-208-6426,
mccollo@sovereignbank.com, or Stacey Weikel, +1-610-208-6112,
sweikel@sovereignbank.com, or Media, Ed Shultz, +1-610-378-6159,
eshultz1@sovereignbank.com, all of Sovereign Bancorp, Inc.
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