This one seems straightforward?: Conagra Foods (NYSE - CAG). This bad boy is paying a little over 5%, has been raising dividends for at least 10 years, and seems to be poised for rediscovery by investors. With a price of $21.12, a p/e of around 14, the stock is at a lower valuation than others in its industry group (Univelever, Kraft, Danon, ADM).

The balance sheet looks to be okay, revenues are down, but its still profitable. Its clear this company is having some problems -- and you can read about it in their recent earnings release. Also, here is an early February press release from management detailing their exit from some frozen meat lines. That being said, their dividend has been strong (as mentioned above), they have some great brands, and it looks like a place to park some money and hope for a change of perception/business. Hey, if the stock moves a few bucks by the end of the year with the 5% dividend we could make some good $$$.

Any thoughts?