Abstract: A rotationally balanced shaft assembly having a shaft and a bead of balancing material. The shaft has an axial length and an outer surface. The bead is adhered to the outer surface of the shaft and has a length that is greater than its width. The rotationally balanced shaft is also defined as having an initial imbalance angular position along the outer surface of the shaft with the bead being centered on the angular position along the length of the bead. The invention is also directed to a method of balancing a shaft using a balancing material applicator. The method includes the steps of determining an imbalance of the shaft, aligning the balance material applicator, and the angular position of the initial imbalance, and dispensing balancing material from the applicator while causing relative axial movement between the applicator and the shaft.