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Do you prefer stocks that pay their fair share in dividend income? Looking for ways to dig deeper into a company's profitability? In search of companies that can manage their debt well? Interested in companies with minimal long-term debt? For ideas on how to start your own search, we ran a screen.

Return on assets (ROA) illustrates how much a company is generating in earnings from its assets alone. This metric gives investors a picture of how profitable the company is relative to the assets in current possession. Also, it lets investors see how efficient and effective management is at generating earnings from the company's assets. While most management teams can probably make money by throwing money at an issue, very few can make very large profits with little investment.

Return on equity (ROE) is one way to identify great potential names relative to profitability. This ratio illustrates the percentage return on shareholder equity. Also, this metric segments the company into operational efficiency, asset use efficiency, and financial leverage. Why does this matter? Simply put, it allows investors to get a real picture of how the company is generating these returns and helps identify parts of the company that may be underperforming.

The debt/equity ratio illustrates how aggressively a company is financing its growth via debt. The more debt financing that is used in a capital structure, the more volatile earnings can become due to the additional interest expense. Should a company's potentially enhanced earnings fail to exceed the cost associated with debt financing over time, this can lead the company toward substantial trouble.

The long-term debt/equity ratio illustrates how aggressively a company is financing its growth via debt. The more debt financing that is used in a capital structure, the more volatile earnings can become due to the additional interest expense. Should a company's potentially enhanced earnings fail to exceed the cost associated with debt financing over time, this can lead the company toward substantial trouble.

We first looked for stocks with a very high yield (more than 5%). We then looked for businesses with strong profitability (ROA > 10%)(ROE [TTM] > 30%). We then looked for businesses that have maintained a sound capital structure (D/E Ratio < 0.3). We then looked for businesses that operate with little to no long-term debt (long-term D/E ratio < 0.1). We did not screen out any market caps or sectors.

Do you think these stocks are undervalued and should be trading higher? Use our list to help with your own analysis.

1. Cross Timbers Royalty Trust (CRT)

Sector:Basic Materials
Industry:Oil & Gas Drilling & Exploration
Market Cap:$236.76M
Beta:0.60

Cross Timbers Royalty Trust has a Dividend Yield of 7.68% and Payout Ratio of 100.00% and Return on Assets of 119.09% and Return on Equity of 131.10% and Debt/Equity Ratio of 0.00 and Long-Term Debt/Equity Ratio of 0.00. The short interest was 0.79% as of May 10, 2012. Cross Timbers Royalty Trust operates as an express trust in the U.S. The company holds 90% net profits interests in various royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico.

2. Mesabi Trust (MSB)

Sector:Financial
Industry:Diversified Investments
Market Cap:$366.31M
Beta:1.75

Mesabi Trust has a Dividend Yield of 9.12% and Payout Ratio of 99.87% and Return on Assets of 319.37% and Return on Equity of 3,291.93% and Debt/Equity Ratio of 0.00 and Long-Term Debt/Equity Ratio of 0.00. The short interest was 5.76% as of May 10, 2012. Mesabi Trust operates as grantor trust in the U.S. It produces iron ore pellets. The company holds interests in various properties, including its interest as an assignor in the amended assignments of Peters Lease and Cloquet Lease, which together cover approximately 9,750 acres in St. Louis County, Minnesota.

3. Hugoton Royalty Trust (HGT)

Sector:Basic Materials
Industry:Oil & Gas Drilling & Exploration
Market Cap:$564.00M
Beta:0.67

Hugoton Royalty Trust has a Dividend Yield of 9.04% and Payout Ratio of 100.00% and Return on Assets of 43.22% and Return on Equity of 44.62% and Debt/Equity Ratio of 0.00 and Long-Term Debt/Equity Ratio of 0.00. The short interest was 2.85% as of May 10, 2012. Hugoton Royalty Trust operates as an express trust in the U.S. The company holds an 80% net profits interests in certain natural gas producing working interest properties of XTO Energy Inc.

4. Great Northern Iron Ore Properties (GNI)

Sector:Basic Materials
Industry:Steel & Iron
Market Cap:$94.41M
Beta:0.38

Great Northern Iron Ore Properties has a Dividend Yield of 23.83% and Payout Ratio of 97.62% and Return on Assets of 120.36% and Return on Equity of 225.68% and Debt/Equity Ratio of 0.00 and Long-Term Debt/Equity Ratio of 0.00. The short interest was 5.05% as of May 10, 2012. Great Northern Iron Ore Properties, a conventional nonvoting trust, owns and leases mineral and non-mineral lands on the Mesabi Iron Range in northeastern Minnesota. It owns mineral interests in approximately 12,033 acres on the Mesabi Iron Range Formation, including approximately 9,895 acres of leased and 2,138 acres of unleased mineral interests. The company was founded in 1906 and is based in Saint Paul, Minnesota.

5. Dominion Resources Black Warrior Trust (DOM)

Sector:Financial
Industry:Diversified Investments
Market Cap:$69.39M
Beta:0.61

Dominion Resources Black Warrior Trust has a Dividend Yield of 10.00% and Payout Ratio of 99.73% and Return on Assets of 47.68% and Return on Equity of 48.14% and Debt/Equity Ratio of 0.00 and Long-Term Debt/Equity Ratio of 0.00. The short interest was 3.18% as of May 10, 2012. Dominion Resources Black Warrior Trust operates as a grantor trust in the U.S. The company acquires and holds overriding royalty interests burdening proved natural gas properties located in the Pottsville coal formation of the Black Warrior Basin, Tuscaloosa county, Alabama, which are owned by Walter Black Warrior Basin LLC. As of December 31, 2010, its underlying properties comprise 34,212 gross acres of land that contained 532 gas producing wells.

6. BP Prudhoe Bay Royalty Trust (BPT)

Sector:Basic Materials
Industry:Oil & Gas Refining & Marketing
Market Cap:$2.52B
Beta:0.63

BP Prudhoe Bay Royalty Trust has a Dividend Yield of 8.27% and Payout Ratio of 99.99% and Return on Assets of 19,921.64% and Return on Equity of 22,957.65% and Debt/Equity Ratio of 0.00 and Long-Term Debt/Equity Ratio of 0.00. The short interest was 2.64% as of May 10, 2012. BP Prudhoe Bay Royalty Trust operates as a grantor trust in the U.S. The company holds overriding royalty interests constituting a non-operational interest in minerals in the Prudhoe Bay oil field located on the North Slope in Alaska. The Prudhoe Bay field extends approximately 12 miles by 27 miles and contains approximately 150,000 gross productive acres.

Company profiles were sourced from Finviz. Financial data was sourced from Yahoo Finance.

Source: 6 High-Yield Dividend Stocks With Legit Earnings And Little Debt