NEW YORK (TheStreet) -- Meredith (MDP - Get Report), Telecom Corporation of New Zealand (NZT) and CenturyLink (CTL - Get Report) 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 - Get Report) 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.