NEW YORK (TheStreet) -- Meredith (MDP), Telecom Corporation of New Zealand (NZT) and CenturyLink (CTL) are among the ten stocks that are likely to generate attractive returns and have upsides ranging between 12% to 21%, as per analysts polled by Bloomberg.
These 10 high-yielding dividend stocks spread across varied sectors not only have a strong track record of dividend payouts but also have raised their latest quarterly distributions. The companies' strong outlook for 2011 supports robust cash flows.
10. Archer Daniels Midland (ADM) engages in procuring, transporting, storing, processing, and merchandising of agricultural commodities and products. The company operates in three main segments: Oilseeds Processing, Corn Processing, and Agricultural Services.
The company recently raised its quarterly dividend by 6.7% to 16 cents per share. With its 36th consecutive annual dividend increase, the company has raised its distribution by almost 12.6% every year over the past decade. Archer has a current dividend yield of 1.8%. As compared to S&P 500's P/E ratio of around 23, the company's PE ratio was much lower at 11.7 also lower than the food and beverage industry's average P/E.
Heading into 2011, Archer has finalized contracts for corn sweetener shipments, which will see prices rising by 25%, further boosting margins for corn sweetener operations. Besides its strong market presence in the U.S., the company forecasts robust demand from Mexico, as the country sometimes imports high-fructose corn syrup and ships higher-priced sugar back to the U.S.
Of the 13 analysts covering the stock, 77% recommend a buy, while the remaining suggest a hold. There are no sell ratings on the stock. Data from Bloomberg has analysts forecasting the stock to gain almost 12% from current levels to $41 over the next 12 months.
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