Baldor Signals Dividend, Stock Repurchase Plan
by November 24, 2003 12:00 am 67 views
Baldor Electric Co. of Fort Smith, which makes electric motors, drives and generators, on Nov. 12 declared an 8 percent increase in its regular quarterly cash dividend.r
The increase is the company’s tenth in the last 10 years. The cash dividend of 14 cents per share on common stock is payable Jan. 5 to shareholders of record on Dec. 15.r
Baldor also said that its board of directors approved the continuation of a share repurchase program, authorizing the repurchase of up to 3 million shares between Jan. 1, 2004 and Dec. 31, 2008.r
The share repurchase authorization currently in effect expires at the end of 2003. Since September 1998, Baldor said, it has repurchased about 5.8 million shares.r