The Washington Post Co. (NYSE: WPO) has raised its annual dividend from $9.40/share to $9.80/share beginning with the first quarter’s payment due next month. The company’s current dividend yield is 2.4%, which rises to about 2.5% with following the dividend increase.
In addition to its flagship newspaper, the company also operates the Kaplan test preparation and educational services company as well as cable and broadcast television stations.
The company’s shares are up more than 2% on the news, to $394.45 in a 523-week range of $308.50-$455.68. The Washington Post’s shares are down nearly -7% in the last 12 months. Shares of competitor Apollo Group, Inc. (NASDAQ: APOL), owner of the University of Phoenix,rose nearly 30% in the same period.