By: E&P Staff
The Washington Post Co., nearly alone among newspaper publishers still paying a dividend, declared a regular quarterly dividend of $2.25 a share. Earlier this year, the Post Co. announced it would increase the annual dividend rate on its common stock to $9.00 a share from $8.60.
In 2009 every other publicly traded newspaper publisher eliminated or drastically cut its dividend payout, either voluntarily or at the order of its bankers, but always for the same reason — to dig away at the debt mountain they had created.
Separately, the Post Co. said G. Richard “Rick” Wagoner Jr., who was forced out as CEO of General Motors by the federal government before it bailed out the automaker in a $51 billion reorganization, had been elected to its board of directors.
“Rick ran one of the biggest advertisers in the world; GM was a very large-scale buyer of advertising,” Post Co. Chairman Donald E. Graham said Thursday. “Kaplan is becoming more of an international company, and Rick has managed companies around the