Baldor Electric Company Reports Annual Shareholders' Meeting Highlights and 2nd Quarter 2009 Dividend
FORT SMITH, Ark., May 4, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Baldor Electric Company (NYSE: BEZ) markets, designs and manufactures industrial electric motors, mechanical power transmission products, drives and generators. 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 2, 2009, in Fort Smith and attended by over 250 shareholders and guests. Following are the highlights of the meeting.
-
Company directors Merlin J. Augustine, Jr., John A. McFarland, and Robert L. Proost were re-elected to serve three-year terms which will expire in 2012.
-
Shareholders ratified the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm.
-
Shareholders voted in favor of a proposal to amend the Baldor Electric Company 2006 Equity Incentive Plan.
-
Shareholders voted in favor of a proposal to create the Baldor Electric Company Plan for Tax Deductible Executive Compensation.
-
At the meeting, presentations were made by John A. McFarland, Chairman and CEO, and Ronald E. Tucker, President and COO. A reprint of the presentation 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 June 30, 2009, to shareholders of record on June 9, 2009.
Next Update ... On May 12, 2009, the Company will meet with institutional investors at the UBS Industrial Conference in Chicago. Baldor will also host an Investor Meeting at 11:30 a.m. on June 9, 2009, in New York City. For more information on either of these events, please contact Investor Relations at investorinfo@baldor.com.
BEZ-G
SOURCE Baldor Electric Company
http://www.baldor.com
Copyright © 2009 PR Newswire. All rights reserved
|
|
