PHILADELPHIA, July 24 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc.
("Sovereign") (NYSE: SOV), parent company of Sovereign Bank, announced today
that on July 22, 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 August 15, 2008 to holders of
record on August 1, 2008 for the Sovereign Series C Non-Cumulative Perpetual
Preferred Stock (NYSE: SOVPRC). A dividend of $0.484375 is payable on August
15, 2008 to holders of record on August 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.