WD40 is great for drying out wet electrical components . WD stands for water displacement. It won't lubricate for very long. Once the WD 40 evaporates, It will be drier than was before.
I know, I know " I've been using WD 40 for years". Well, you've been using it wrong. Unless you were spraying on wet electrical contacts or circuit boards.
What you need is white lithium grease.