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8 High-Dividend Stocks With Upside

3. CenturyLink (CTL) is an integrated communications company providing a range of services, including voice, Internet, data and video services. In addition, it also offers communications, professional and business information services in a few local and regional markets.

CenturyLink's board of directors recently approved a quarterly cash dividend of 72.5 cents per share payable on Sept. 16, 2011. Currently, the company has a dividend yield of 7.2%. The five-year net growth rate for dividend per share stands at 63.9%.

Operating revenue for the second quarter 2011 increased 148.6% to $4.4 billion from $1.8 billion in the year-ago quarter. Net income for the quarter stood at $262 million, or 44 cents per share. Operating cash flow, excluding special items, increased 107.7% to $1.9 billion from the second quarter of 2010.

For full-year 2011, the company expects pro forma operating revenue to come in the range of $18.5 to $18.8 billion from the earlier estimate of $17.6 to $17.8 billion. Meanwhile, pro forma diluted earnings per share are seen ranging between $1.5 and $1.6. Pro forma free cash flow is seen ranging from $3.4 to $3.6 billion, while pro forma operating cash flow is expected between $7.8 and $8 billion.

Of the 22 analysts covering the stock, 68% recommend a buy and the rest suggest a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg foresee the stock gaining an average 27.6% to $44.00 in the upcoming 12 months.

Stock quotes in this article: CTL, SCCO, LINE, SEP, KMP, NLY, HCP, CIM 

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