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Many investors are attracted to the stock market by the prospect of generating a healthy level of passive income. But when a high-yielding stock’s also growing rapidly, the potential returns can be even more impressive.
Take M.P. Evans Group (LSE:MPE), the Indonesian palm oil producer, as an example.
Good for income and growth
In respect of its 2024 financial year, the group’s declared a dividend of 52.5p a share, an increase of 17% on the previous year. This means the stock’s presently yielding a very respectable 5.3%.
The company first paid a dividend in 1993. Since then, it’s increased (or maintained) its payout every year. More recently — since 2020 — it’s grown by an average annual rate of 24.3%.
Also, over the past five years, its share price has risen by an annual average of 17%.
This is an impressive…
