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Sovereign Declares Quarterly Dividends on Preferred Stock and Capital Trust
PHILADELPHIA, July 24 -- Sovereign Bancorp, Inc. ("Sovereign") , 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 . 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 .
Sovereign Bancorp, Inc., ("Sovereign") , 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.
CONTACT: Financial, Kirk Walters, +1-617-346-7346,
kwalter1@sovereignbank.com, or Stacey Weikel, +1-610-320-8428,
sweikel@sovereignbank.com; or Media, Andrew Gully, +1-617-757-5513,
agully@sovereignbank.com, or Ellen Molle +1-617-757-5573,
emolle@sovereignbank.com, all of Sovereign Bancorp, Inc.
Web site: http://www.sovereignbank.com/
