By Harry Domash, editor The Dividend Detective

Despite mixed economic numbers, it still looks like the economy will continue to improve in the coming months.

However, we continue to advise caution. Invest only money that you can commit for at least six-months to give you time to ride out unexpected market dips. Meanwhile, we have added four income issues to our various portfolios.

Willis Lease 9.00% Series A Cumulative Preferreds (NASDAQ: WLFCP) are trading close to their $10.00 issue price, thus offering an 8.9% current yield.

Although Willis has a strong balance sheet (no long-term debt), its preferreds are not credit rated, so we can recommend them for speculative funds only. Willis can call the preferreds as soon as February 2011, so plan on holding them for one-year only.

We're adding the Western Asset High Income Fund II (NYSE: HIX) to our closed-end fund portfolio. The fund, which pays monthly dividends equating to an expected 12.5% yield, invests mostly in high-yield corporate debt (junk bonds). Western Asset Management is a unit of Legg Mason.

Among limited partnership, we're adding investment manager AllianceBernstein Holding (NYSE: AB) to the portfolio.

AB's income mostly comes from fees based on the value of assets under management, so its earnings vary with the value of the overall markets, and the amount of cash invested in the markets. Both are down from earlier years, but currently on the rise. 

AB's quarterly payouts are not steady, as is the case for most stocks. Instead, each payout reflects the preceding quarter's per share earnings. We are estimating AB's next 12-month yield at 7.3%. If current trends continue, we expect at least 15% annual dividend growth.

In our manufactduring and services portfolio, we're adding packaged food products maker B&G Foods (NYSE: BGS) to the portfolio.

B&G produces a diversified line of food products carried by small specialty retailers, large warehouse stores, and everything in-between. It's paying dividends equating to an expected 7.4% yield. 

Learn more about this financial newsletter at The Dividend Detective.