PHILADELPHIA, Oct. 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 November 15, 2006 to shareholders of record on November 1, 2006.
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 $.45625 per depositary share is
payable on November 15, 2006 to holders of record on November 1, 2006 for
the Sovereign Series C Non-Cumulative Perpetual Preferred Stock (NYSE:
SOVPRC). A dividend of $.484375 is payable on November 15, 2006 to holders
of record on November 14, 2006 for the Sovereign Capital Trust V Securities
(NYSE: SOVPRB). A dividend of $0.546875 per share is payable on December
29, 2006 on Sovereign's Preferred Securities issued by Sovereign Capital
Trust III (NYSE: SOVPRA) to holders of record on December 28, 2006.
Sovereign Bancorp, Inc. ("Sovereign") (NYSE: SOV) is the parent company
of Sovereign Bank, an $89 billion financial institution with nearly 800
community banking offices, over 2,000 ATMs after giving effect to the
recently announced branding agreement in which Sovereign ATMs will be
placed in CVS/pharmacy locations 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, or
mmccollo@sovereignbank.com, or Stacey Weikel, +1-610-208-6112, or
sweikel@sovereignbank.com; or MEDIA: Ed Shultz, +1-610-378-6159,
or eshultz1@sovereignbank.com, all of Sovereign Bancorp
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