This Undervalued High Dividend Stock Has Triple-Digit Income Growth And Yields Over 6%

Have you looked at airline profits lately? They're booming, thanks to increased cargo and tourist traffic and cheaper fuel. We wrote an article about this week's focus stock, Fly Leasing Ltd. (NYSE:FLY), in January 2015. Since then, it has been trouncing the market, but don't worry, it still looks undervalued, as we'll show later in this article. FLY Leasing Limited, together with its subsidiaries, engages in purchasing and leasing commercial aircraft under multi-year contracts to various airlines worldwide.

As of December 31, 2014, its aircraft portfolio consisted of 127 commercial jet aircraft, including 116 narrow-body passenger aircraft and 11 wide-body passenger aircraft. The company was founded in 2007 and is headquartered in Dun Laoghaire, Ireland. Our High Dividend Stocks By Sectors Tables track FLY in the Industrials section. FLY has achieved a 60% dividend payout ratio over the past 4 quarters. Its 5-year dividend growth is very modest, but, given its earnings growth, we may see another dividend increase in 2015. Management said on the recent earnings call that they felt shareholders were better served by deploying capital to expand FLY's lease fleet. So far, as you'll see in the Earnings section below, this has been working well.

Source: Seeking Alpha

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