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Media firm Meredith ( MDP), one of the highest-yielding media stocks, has been steadily boosting its dividend over the last decade and just announced another hike that equates to $1.53 on an annualized basis. That's good for a 5% yield.

To be sure, this magazine publisher and TV network affiliate operator has suffered from the ongoing pressures seen by many media companies. Sales grew just 1% in 2011 to $1.4 billion. Still, EBITDA remains quite healthy at nearly $250 million, which provides solid support for the current dividend.

To goose the top line, management is boosting Meredith's media presence on the Internet, as highlighted by a just-announced $175 million purchase of That stiff purchase price raised eyebrows, but management insists that the deal will add to EPS by 2013.

If the U.S. economy improves in 2012, ad spending should get a real boost, helping Meredith's print, broadcast and web properties to gain better sales traction.

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