PHILADELPHIA — The board of directors for Sovereign Bancorp, Inc., parent company of Sovereign Bank, has declared a regular quarterly cash dividend of .025 cents per share on the company’s common stock. The dividend is payable on May 15 to common stock shareholders of record on April 30.
Sovereign plans to issue the next dividend payment of .9375 cents on its Convertible Trust Preferred Securities payable on May 15 to unit holders of record on May 14.
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