Wells Fargo Reiterates an 'Outperform' on FLY Leasing Limited (FLY); Implications From 10% Dividend Increase

July 13, 2012 10:54 AM EDT
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Price: $13.89 +0.80%

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Wells Fargo reiterates an 'Outperform' on FLY Leasing Limited (NYSE: FLY).

Analyst, Gary S. Liebowitz, said, "This morning FLY announced a 10% increase in its quarterly dividend to $0.22 from $0.20, implying an attractive 6.9% dividend yield the
highest in the aircraft leasing group."

"The dividend increase could signal FLY's confidence in its ability to refinance certain 2012/13 debt maturities at reasonably attractive terms. Also, we believe Q2 cash flow should be strong following the sale of three aircraft (all for gains) during the quarter."

For an analyst ratings summary and ratings history on FLY Leasing Limited click here. For more ratings news on FLY Leasing Limited click here.

Shares of FLY Leasing Limited closed at $12.66 yesterday.

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