The Washington Post (WPO) Sees Bump on Class B Buyback, Divided, Weymouth Election to Board

Shares of The Washington Post (NYSE: WPO) spiked up today, after the company announced that they were going to repurchase up to 750,000 Class B shares. The stock is currently trading 5.26% higher in the early afternoon session. The stock is also up 6.9% from lows of the day. WPO also said that they have 16,312 shares remaining under a prior buyback program.

WPO has about 7.5 million Class B shares outstanding.

The company may be benefiting from their Kaplan education division up until now, but pressure from new rules on for-profit schools that could hurt future results of that division.

Shares are down 12.8% since the start of 2010.

The company also announced that they elected Katharine Weymouth to the Board of Directors. Weymouth is CEO of their Media division and publisher of the Washington Post.

In keeping with the theme of returning cash to shareholders, the Board also declared a regular quarterly dividend of $2.25.

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