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quarterly (adv.)

early 15c., quarterli, "four times a year, once a quarter," from quarter (n.1) + -ly (2). As an adjective from mid-15c., "occupying alternate quarters" (of a coat of arms), with -ly (1). As a noun, "a quarterly publication," from 1830, from the adjective. Earlier the adverb was used in a now-obsolete sense of "into quarters" (c. 1400).

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Definitions of quarterly from WordNet
1
quarterly (adv.)
in diagonally opposed quarters of an escutcheon;
two coats of arms borne quarterly
quarterly (adv.)
in three month intervals;
interest is compounded quarterly
Synonyms: every quarter
2
quarterly (n.)
a periodical that is published every quarter (or four issues per year);
3
quarterly (adj.)
of or relating to or consisting of a quarter;
quarterly report
From wordnet.princeton.edu