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.
