Redwood Financial, Inc. Announces Special Cash Dividend
REDWOOD FALLS, Minn.,
Nov. 15, 2012 /PRNewswire/
-- Dean K. Toft, President of Redwood Financial, Inc. (OTC BB:
REDW) (the Company), the holding company of HomeTown Bank (the
Bank), announced today that on November 14,
2012, the Board of Directors of the Company declared a
special cash dividend of $ 0.25 per
share, payable on December 5, 2012 to
stockholders of record on November 21,
2012. Toft said that the continued profitability and capital
strength of the Bank allowed the Board of Directors to declare this
special dividend. Toft further said that it is not the intention of
the Board of Directors to declare regular quarterly dividends but
that the Board of Directors will continue to assess the earnings
and capital position of the Company and Bank at various times to
determine if future special dividends will be declared.
The Bank is a federally chartered thrift organization
headquartered in Redwood Falls,
Minnesota and has branch offices in Redwood Falls, Olivia, St.
Peter, Cleveland,
Le Sueur, Henderson and Jordan, all in Minnesota. The Bank was founded in 1924 and
deposits are federally insured up to the legal limit.
Forward-looking Statements
Statements in this press
release that are not strictly historical may be "forward-looking"
statements, which involve risks and uncertainties. The foregoing
material may contain forward-looking statements concerning the
financial condition, results of operations and business of the
Company. We caution that such statements are subject to a number of
uncertainties and actual results could differ materially and,
therefore, readers should not place undue reliance on any
forward-looking statements. The Company does not undertake, and
specifically disclaims, any obligation to publicly release the
results of any revisions that may be made to any forward-looking
statements to reflect the occurrence of anticipated or
unanticipated events or circumstances arising after the date
hereof.
SOURCE Redwood Financial, Inc.