WYOMISSING, Pa. -- Sovereign Bancorp Inc. declared a six-for-five stock split and a regular quarterly dividend of 4 cents a share.
The company said that beginning next year the quarterly cash dividend would be increased from the split-adjusted 3.3. cents a share to 3.5 cents.
Sovereign said this increase means 18% higher cash dividends on an annualized basis compared with those aid this year.