FLY Leasing: Flying High With A High-Yield Dividend Play

Few high-yielding dividend companies offer the ideal situation that FLY Leasing Limited (FLY) now finds itself in. Air transportation continues to prosper on the relief of rapidly declining fuel prices and suppressed interest rates have provided ample time for the company to fortify its business with access to low-cost financing. With favorable industry prospects going forward, the company has actively sought to modernize its aircraft fleet and extend upon its long-term leases.(Image Source)FLY Leasing is a global lessor of commercial jet aircraft. The business entity is one of the world's leading aircraft-leasing companies with more than 25 years of experience. The company acquires and leases its aircraft to numerous airlines around the world under operating leases extending over multiple years. Management actively buys and sells its aircraft in order to best develop an attractive jet portfolio. In 2014 alone, FLY Leasing acquired 22 new and relatively new aircraft while selling 8 older planes. Doing so allowed the company to surpass its initial 2014 growth target of 15% by increasing its book value by 22% for the year.For investors, the most attractive pitch for the stock remains its associated dividend. Since the company went public in 2007, FLY Leasing has declared 29 consecutive quarterly cash dividends, totaling $7.37 per share. The company currently supports an annual dividend rate of $1.00, representing a high annual yield of 7.1% at the current share price of $14.17 as of... Read more