Washington Post ( WPO) said its board has approved an increase in the company's dividend.

The publishing concern will now pay out dividends at an annual rate of $8.20 a share, up from $7.80 previously. The dividend for the first quarter, $2.05 a share, is payable on Feb. 9 to stockholders of record Jan. 31.

Washington Post closed Thursday at $762.87.

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