Baldor announces dividend, management promotion

Fort Smith-based Baldor Electric Co. announced Tuesday (Nov. 10) a dividend and management promotion.

A cash dividend of 17 cents per share will be paid Jan. 5 to shareholders of record as of Dec. 15.

Jeffery Hubert was promoted to vice president-generators from his recent job as general manager of generators. Hubert has more than 20 years of experience in industrial sales and manufacturing, and will oversee Baldor’s generator business, including sales, engineering and manufacturing, according to a company statement.

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.