Washington Post sets quarterly dividend of $2.15

The Washington Post Co. on Thursday declared a regular quarterly dividend of $2.15 cents per share.

The media company, which publishes the Washington Post newspaper, said the dividend will be payable Aug. 7 to shareholders of record July 27.

The publisher also owns Newsweek magazine, Kaplan educational services, a cable TV business and other properties.

Before reporting a loss for its first quarter in May, the company had posted nine straight quarters of declining profits. Revenue from its education and cable TV units have bolstered the Post's earnings. However, that wasn't enough to offset the accelerating decline in advertising income from its newspaper division.

The Post paid dividends at an annual rate of $8.60 in 2008.