PHILADELPHIA, April 23 /PRNewswire-FirstCall/ -- Sovereign Bancorp,
Inc. ("Sovereign") (NYSE: SOV), parent company of Sovereign Bank, announced
today that on April 21, 2008 its Board of Directors declared dividends on
Sovereign's Preferred Stock and Capital Trust V Securities. A dividend
payment of $0.45625 per depositary share is payable on May 15, 2008 to
holders of record on May 1, 2008 for the Sovereign Series C Non-Cumulative
Perpetual Preferred Stock (NYSE: SOVPRC). A dividend of $0.484375 is
payable on May 15, 2008 to holders of record on May 14, 2008 for the
Sovereign Capital Trust V Securities (NYSE: SOVPRB).
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, a financial institution with principal markets
in the Northeastern United States. Sovereign Bank has 750 community banking
offices, over 2,300 ATMs and approximately 12,000 team members. 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. 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, Kirk Walters, +1-617-346-7346,
kwalter1@sovereignbank.com, or Stacey Weikel, +1-610-320-8428,
sweikel@sovereignbank.com, or MEDIA, Ed Shultz, +1-610-378-6159,
eshultz1@sovereignbank.com, all of Sovereign Bancorp, Inc.
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