Real Dictionary

yearly
A yearly event happens once a year or every year.

yearly in American English
done, happening, appearing, etc. once a year, or every year
adjective: pertaining to a year or to each year
adverb: once a year; annually
noun: a publication appearing once a year

yearly in British English
adjective: occurring, done, appearing, etc, once a year or every year; annual
adverb: once a year; annually
noun: a publication, event, etc, that occurs once a year