New York Community Bancorp Inc. ( NYB) is one of the four stocks we highlight this week from the Growth and Income Strategy. This strategy looks for stocks that are paying dividend yields of greater than 8% along with other attractive fundamental attributes. Although this screen is based on a long-term and lower risk approach to investing, it has a history of outperforming the S&P 500.

Here are highlights about four companies currently on the Growth and Income Profit Track:

New York Community Bancorp Inc. ( NYB ) is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. NYB declared a dividend of 25 cents per share for the third quarter, which will be paid to shareholders of record on Nov 4. The company reported earnings of 26 cents per share for the third quarter, compared to 25 cents last year. NYB earned its place on the Growth & Income profit track with a per share price of $10.39 and a dividend yield of 9.62%.

Annaly Capital Management, Inc. ( NLY ) reported third quarter net earnings of 74 cents per share, compared to 61 cents last year. NLY sports a dividend yield of 16.39% and a per share price of $16.84. On Oct 29, the company paid a quarterly dividend of 69 cents, to shareholders of record on Oct 1. NLY specializes in investing in Mortgage-Backed Securities.

Williams Partners L.P. ( WPZ ) through its subsidiaries, primarily finds, produces, gathers, processes and transports natural gas. WPZ offers a dividend yield of 9.89%, and therefore satisfies the criteria for this profit track. The company announced third quarter results on Oct 29, with net earnings of $1.04, compared to 82 cents a year ago. The analysts? expected the company to report earnings of 62 cents. WPZ will pay a quarterly dividend of 63 cents to shareholders of record on Nov 4.

Cellcom Israel Ltd. ( CEL ) is the leading Israeli cellular provider that meets the requirements for this profit track with a high dividend yield of 10.73% and a per share price of $29.81. The company announced year-over-year second quarter net earnings of 71 cents, compared to 69 cents, delivering a 9.23% surprise. On Sep 14, CEL paid a quarterly dividend of 80 cents, to shareholders of record on Aug 27. Cellcom Israel is scheduled to announce third quarter earnings on Nov 16, 2009.