Sovereign Declares Quarterly Dividends on Preferred Stock and Capital Trust

Jan 19, 2010, 15:21 ET from Sovereign Bancorp, Inc.

BOSTON, Jan. 19 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc. ("Sovereign"), 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 February 15, 2010 to holders of record on February 1, 2010 for the Sovereign Series C Non-Cumulative Perpetual Preferred Stock (NYSE: SOVPRC).  A dividend of $0.484375 is payable on February 15, 2010 to holders of record on February 12, 2010 for the Sovereign Capital Trust V Securities (NYSE: SOVPRB).

About Sovereign

Sovereign Bank, a subsidiary of Banco Santander, S.A., is a financial institution with principal markets in the northeastern United States. Sovereign has more than 700 branches, over 2,300 ATMs and approximately 9,000 team members.  For more information on Sovereign Bank, visit or call 877-SOV-BANK.

Banco Santander (SAN.MC, STD.N) is a retail and commercial bank, based in Spain. At the end of 2008, Santander was the largest bank in the euro zone by market capitalization and third in the world by profit. Founded in 1857, Santander had EUR 1,271 billion in managed funds at the end of 2008. Following the acquisition of Sovereign Bancorp in January 2009, Santander has 90 million customers, around 14,000 branches – more than any other international bank – and over 170,000 employees. It is the largest financial group in Spain and Latin America, with leading positions in the United Kingdom and Portugal and a broad presence in Europe through its Santander Consumer Finance arm.

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.

Sovereign Bank is a registered trademark of Sovereign Bank or its affiliates or subsidiaries in the United States and other countries.

SOURCE Sovereign Bancorp, Inc.