WELLS, Minn., Aug. 22, 2012 /PRNewswire/ -- Lonnie R. Trasamar, President of Wells Financial Corp. (OTC BB:WEFP) (the Company), the holding company of Wells Federal Bank (the Bank), announced today that on August 21, 2012 the Board of Directors declared a special $0.25 per share cash dividend, payable on September 21, 2012 to shareholders of record on September 7, 2012. Trasamar stated that the Board of Directors is pleased with the continued profitability and capital strength of the Bank which allowed the Directors to declare this dividend. It is not the Board's intent to declare regular quarterly dividends but to assess the earnings and capital position of the Company at various intervals and to declare dividends based on these assessments.
The Bank is a Minnesota State chartered commercial bank headquartered in Wells, Minnesota. The Bank has nine offices located in Faribault, Martin, Blue Earth, Nicollet, Freeborn, Steele and Dakota Counties. It was founded in 1934 and its deposits are federally insured.
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 Wells Financial Corp.