Washington Post Co. Keeps Dividend Unchanged

By: Mark Fitzgerald Even as its newspaper peers cut or eliminate their quarterly dividend to pay down debt or preserve liquidity, The Washington Post Co. Tuesday declared a dividend in the same amount it has paid for the last year.

The New York Times Co. was the most recent newspaper company to suspend its dividend, saying the funds would go to servicing its debt. The Times Co. had earlier cut its dividend payout by nearly 75%. Newspaper companies that have suspended dividends include Lee Enterprises, The McClatchy Co., and GateHouse Media Inc.

Gannett Co. Inc.?s board of directors is meeting today and Wednesday, and is expected by some analysts to reduce or possibly suspend the dividend it has paid since going public in 1967.

The Washington Post Co. declared a regular quarterly dividend of $2.15 per share, payable on May 8, 2009 to shareholders of record on April 27, 2009. That is the same quarterly amount the company has paid since January 2008, when the dividend was increased from $2.05 per share.