Elaborating on Matt's answer here: https://stackoverflow.com/a/16502598/196358 it can be done using NSAttributedString and NSParagraphStyle. See below:
NSMutableParagraphStyle *paragraphStyle = [[NSMutableParagraphStyle alloc] init];
paragraphStyle.hyphenationFactor = 1.0f;
NSMutableAttributedString *attributedString = [[NSMutableAttributedString alloc] initWithString:titleString attributes:@{ NSParagraphStyleAttributeName : paragraphStyle }];
self.titleLabel.attributedText = attributedString;
This will cause the label to break at logical places mid-word using hyphens. It looks great, and is pretty simple to do. It requires iOS 6.0, but I've only tried it under 7.0.
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