PHILADELPHIA, Oct. 21 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc.
("Sovereign") (NYSE: SOV), parent company of Sovereign Bank, announced
today that 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 November 17, 2008 to holders of
record on November 1, 2008 for the Sovereign Series C Non-Cumulative
Perpetual Preferred Stock (NYSE: SOVPRC). A dividend of $0.484375 is
payable on November 17, 2008 to holders of record on November 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 Contacts: Kirk Walters,
+1-617-346-7346, kwalter1@sovereignbank.com, or Stacey Weikel,
+1-610-320-8428, sweikel@sovereignbank.com; or Media Contacts:
Andrew Gully, +1-617-757-5513, agully@sovereignbank.com, or Ellen
Molle, +1-617-757-5573, emolle@sovereignbank.com, all of
Sovereign Bancorp, Inc.
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