BOSTON, July 2, 2018 /PRNewswire/ -- Santander Holdings
USA, Inc. (SHUSA), parent company
of Santander Bank, N.A., announced
today that its Board of Directors declared a dividend on SHUSA's
Series C Non-Cumulative Perpetual Preferred Stock (the "Series C
Preferred Stock") (NYSE: SOVPRC).
Also, today SHUSA announced that its Board of Directors approved
the redemption of all outstanding shares of the Series C Preferred
Stock, and all outstanding shares of the related depositary shares,
each representing a 1/1000th ownership interest in a
share of Series C Preferred Stock ("Depositary Share").
A dividend payment of $0.45625 per
Depositary Share is payable on August 15, 2018 to holders of
record on August 1, 2018.
The Series C Preferred Stock will be redeemed on August 15, 2018. The redemption price will
be $25.00 per Depositary Share,
equivalent to $25,000.00 per share of
Series C Preferred Stock. Thereafter, the Series C Preferred Stock
and the related Depositary Shares will no longer be deemed
outstanding, and the only remaining right of the holders will be to
receive payment of the respective redemption amount, without
interest.
All shares of the Series C Preferred Stock and the related
Depositary Shares are held in book-entry form through The
Depositary Trust Company ("DTC") and will be redeemed in accordance
with the applicable procedures of DTC. Notice of the
redemption and payment of the aggregate redemption price will be
made to DTC on SHUSA's behalf by Computershare Trust Company,
N.A.
Santander Holdings USA, Inc.
(SHUSA) is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN)
(Santander), one of the most respected banking groups in the world
with more than 125 million customers in the U.S., Europe and Latin
America. As the intermediate holding company for Santander's
U.S. businesses, SHUSA includes six financial companies with
approximately 17,000 employees, 5.2 million customers and assets of
over $129.2 billion as of
March 31, 2018. These include
Santander Bank, N.A., one of the
country's largest retail and commercial banks by deposits;
Santander Consumer USA Holdings
Inc. (NYSE: SC), an auto finance and consumer lending company;
Banco Santander International of Miami; Banco Santander Puerto Rico; Santander
Securities LLC of Boston; and
Santander Investment Securities Inc. of New York.
FINANCIAL CONTACT:
Andrew
Withers
617-757-3524
awithers@santander.us
MEDIA CONTACTS:
Ann
Davis
617-757-5891
ann.davis@santander.us
Nancy Orlando
617-757-5765
nancy.orlando@santander.us
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SOURCE Santander Holdings USA,
Inc.