Baldor Electric Company Announces 2nd Quarter 2010 Dividend and Results of Annual Shareholders' Meeting

FORT SMITH, Ark., May 3 /PRNewswire-FirstCall/ -- Fort Smith, Arkansas -- Baldor Electric Company (NYSE: BEZ) markets, designs, and manufactures industrial electric motors, mechanical power transmission products, drives, and generators and is based in Fort Smith, Arkansas.  Baldor made the following report today after the recent Shareholders' and Board of Director meetings.

Annual Shareholders' Meeting Highlights ... The Company's Annual Shareholders' Meeting was held on May 1, 2010, in Fort Smith and attended by approximately 200 shareholders and guests.  Following are the highlights of the meeting.

• Company directors Jean A. Mauldin, R.L. Qualls, Barry K. Rogstad and Ronald E. Tucker were re-elected to serve three-year terms which will expire in 2013.
• Shareholders ratified the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm.
• At the meeting, presentations were made by John A. McFarland, Chairman and CEO, and Ronald E. Tucker, President and COO.  A copy of the presentation can be found on the company's website at www.baldor.com, and a printed copy is available upon request.

Cash Dividend ... The Board of Directors declared a cash dividend of $0.17 per share on the Company's common stock payable on July 7, 2010, to shareholders of record on June 16, 2010.

Next Update ... The Company will meet with institutional investors at the Barrington Research Industrial Conference on May 25, 2010 in Chicago and the KeyBanc Industrial & Automotive Conference on June 3, 2010 in Boston.  For more information on either of these events, please contact Investor Relations at [email protected].

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SOURCE Baldor Electric Company