Income is a big part of investors' returns. Stocks, mutual funds and fixed income ideas in this column are featured because they are relatively solid in their ability to pay dividends or interest. We're giving income investors a resource to start their research for investments that give better yields with lower risk.

This division also offers eight titles on various digital platforms, such as the Apple iPad, Android, Barnes & Noble's Nook Color, and Zinio; integrated marketing, which provides customer relationship marketing services, including custom publishing and digital, mobile, word-of-mouth, social, and database marketing to corporate customers; and an Internet presence that consists of approximately 30 Web sites and mobile Web sites, 10 mobile applications, and strategic alliances with various Internet destinations.

The Local Media segment includes 12 network-affiliated television stations comprising 6 CBS affiliates, 3 FOX affiliates, 2 MyNetworkTV affiliates, and 1 NBC affiliate, as well as 1 AM radio station. This group also includes 35 Web sites and mobile websites, as well as approximately 20 mobile applications. The company was founded in 1902 and is headquartered in Des Moines, Iowa.

When a company raises its dividend by 50%, it says a couple of things. First and foremost it declares management has faith that it will continue delivering earnings to cover the payout with no problem. It also states the love management has for shareholders and is a way of expressing it in tangible form. Clearly, MDP management and board have their shareholders at the top of their priorities. Dividends have increased every year since 1995 when they were 19 cents a share.

First fiscal quarter (fiscal year ends June 30) saw continued weaker ad revenues, notably political dollars compared to last year's first period. The economic weakness is also an influence as consumer goods producers such as food/beverage and pharmaceuticals which experienced lowered spending from customers yet higher raw materials costs. To compensate, they lowere their advertising budgets. Further reducing revenues Meredith discontinued certain magazines that were either marginally profitable or losers.

Estimates for this year's earnings (according to the consensus of 9 analysts) is $2.64, down from the $2.78 made last year. For 2012, they see $3.05.

In line with the management's commitment to shareholders by raising the dividend considerably, it is also expediting its stock repurchase program and authorized another $100 million of it. Better free cash flow funded this program as well as the recent purchase of Every Day With Rachel Ray, the magazine and its associated digital assets. It brings 7.3 million readers into the Meredith fold and assures its dominant market share of the female magazine sector. Look for more acquisitions and/or partnerships to help fuel the company's top line growth as older or less popular magazines fold.

Essential Numbers:
- Market Cap: $1.26 billion
- Trailing P/E: 10.33
- Forward P/E: 9.14
- Price/Sales Ratio: .89
- Price to book ratio: 1.59
- Operating Margin: 15.53%
- Profit Margin: 8.9%
- Return on equity: 17.12%
- Return on assets: 7.77%
- Revenues for last 12 months: $1.39 billion
- Total cash: $18.95 million
- Total cash per share: 42 cents
- Total debt: $250 million
- Total debt to equity: 32.05%
- Current ratio: .92
- Book value per share: $17.35
- Beta: 1.76
- 52 week change: -15.51%
- Total shares outstanding: 44.97 million
- Float: 36.37 million
- Insiders own: 1.5%
- Insitutions own: 109.4% of the Float
- Forward dividend: $1.53
- Annual yield: 5.5%

Income investors with a little appetite for risk should find MDP worth investigating. Expect better ad revenues as the political races heat up and if the economy gets healthier. Combined, they could make analysts adjust their estimates higher, quickly. Patience is most likely needed if you own this stock, but the dividend will help as you wait.