WEST NYACK, NY -- May 28, 2008 -- General Bearing Corporation (OTC:GNRL.PK) announced today that its Board of Directors has declared a dividend for 2008, of $.40 per share. The dividend will be paid on July 15, 2008, to all shareholders of record on June 30, 2008.
General Bearing Chief Executive Officer, David L. Gussack said, “As a result of continued profitability and debt reduction, we are pleased to provide the shareholders with this return on their investment in General Bearing Corporation. Our goal is to continue providing shareholders with meaningful dividends in future years.”
General Bearing manufactures ball bearings, tapered roller bearings, spherical roller bearings, and cylindrical roller bearings, and bearing components. Under “The General” and the “Hyatt” trademarks, the Company supplies original equipment manufacturers in the automobile, truck/trailer, railcar, office equipment, machinery and appliance industries, as well as the industrial aftermarket.