Baldor announces quarterly dividend
by August 5, 2009 9:29 am 66 views
Fort Smith-based Baldor Electric Co. on Aug. 4 announced a quarterly cash dividend of 17 cents payable Sept. 30 to shareholders of record on Sept. 9.
The company reported July 30 that net sales for the second quarter were $384.67 million, down 24% from the same quarter of 2008. The company reported $7.79 million in net income for the quarter, down more than 73% over the same quarter in 2008.
Baldor, a maker, designer and marketer of electric motors, motor drives, power transmissions and generators, posted record sales in 2008 of $1.95 billion. The company employs between 7,500 and 8,000 in 28 plants in five countries and sales offices serving more than 80 countries. About 2,000 are employed in the Fort Smith area.