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The Zacks Consensus Estimate for full-year 2016 is also on the rise and currently stands at $4.45 per share (up 66 cents over the last two months). Impressive Expansion Efforts We are encouraged by the carriers efforts to expand its operations. In July, the carrier added the third new destination this year as it launched flights to Rosario, Argentina. The carrier, which exited the second quarter with a fleet of over 100 planes, took delivery of one Boeing 737-800 aircraft during the quarter. The carriers efforts to reward its shareholders through dividend payments are also encouraging. Copa Holdings' quarterly dividend of 51 cents per share ($2.04 on an annualized basis) currently yields 2.3%. The carrier paid its dividend for the third quarter on Sep 15. The past records bear evidence of Copa Holdings stable dividend payment history. Oil Still a Benefactor We note that Copa Holdings second-quarter earnings were aided by low fuel costs. Average fuel price per gallon plunged 21.3% to $1.81, thereby boosting the companys bottom line.

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