PHILADELPHIA, Oct. 18 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc.
("Sovereign") (NYSE: SOV), parent company of Sovereign Bank, announced
today that on October 16, 2007 its Board of Directors declared a regular
quarterly cash dividend of $.08 per share on its common stock. The cash
dividend is payable on November 15, 2007 to shareholders of record on
November 1, 2007.
In addition to the common stock cash dividend, dividends were also
declared on Sovereign's Preferred Stock and Capital Trust V Securities. A
dividend payment of $0.45625 per depositary share is payable on November
15, 2007 to holders of record on November 1, 2007 for the Sovereign Series
C Non- Cumulative Perpetual Preferred Stock (NYSE: SOVPRC). A dividend of
$0.484375 is payable on November 15, 2007 to holders of record on November
14, 2007 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 $87 billion in
assets as of September 30, 2007 with principal markets in the Northeast
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. Sovereign is the 18th 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 Contacts: Mark McCollom,
+1-610-208-6426, mmccollo@sovereignbank.com, or Stacey Weikel,
+1-610-208-6112, sweikel@sovereignbank.com; or Media Contact: Ed
Shultz, +1-610-378-6159, eshultz1@sovereignbank.com, all of
Sovereign Bancorp, Inc.
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