Annaly Capital has a huge 12%+ dividend yield, but that doesn't magically make it a great income stock. The first screen that most dividend investors use is often based on dividend yield. The cutoff is normally on the low side, say 4%, so you limit your candidate list to high-yield stocks. However, after some point, higher yields don't necessarily indicate desirable opportunities. That's the case with Annaly Capital (NLY -0.95%) and its dividend yield of 12.8%. Sure, that's a huge yield, but you need to und ...