Looking back over the past 10 years, a select few ASX shares have achieved eye-popping growth and paid big, fully franked dividends.

Seems, in the sharemarket, you can have your cake and eat it too.

Growth and Income

That’s right, you don’t need to hold boring blue chips like Woolworths Limited (ASX: WOW) or Commonwealth Bank of Australia (ASX: CBA) to receive a great dividend yield.

Nor do you have to stoop to the ‘hope and pray’ section of ASX to find significant growth.

Indeed, I think the proving ground for many of the ASX’s best growth stocks is in the middle of the market.

Those shares included in the S&P/ASX 300 (Index: ^AXKO) (ASX: XKO) or at the bottom of the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) are prime targets for investors looking for both growth and yield.

3 eye-popping ASX growth shares with big dividends

Here are three ASX shares that I think should be on every long-term investors’ watch lists:

  1. Altium Limited (ASX: ALU)

Altium is a $700 million technology company that creates software which designers use to build printed circuit boards (PCBs). PCBs are those usually green, boards inside every computerised device. Think mobile phones, calculators, USB drives and pretty much every other smart or internet-enabled machine.

The market for Altium’s products is growing rapidly as technology becomes more pervasive. Incredibly, Altium shares have achieved an average annual total shareholder return (dividend plus capital gains) (TSR) of 38.2% over the past decade – or 115% per year over five years. Shares are forecast to yield 4.7%.

  1. Flight Centre Travel Group Ltd (ASX: FLT)

Flight Centre is an established business and some would argue it’s already a blue chip share and, therefore, not a growth business. However, I think there is plenty of growth left in Flight Centre shares over the long term. Through its award-winning brands, Flight Centre has become synonymous with travel in Australia. And while its overseas expansion may not prove to be as lucrative or rapid as its local operations, Flight Centre has a very capable management team.

Over the past 10 years, Flight Centre’s TSR has ticked up to an impressive 17% per year. Over five years, the total return from Flight Centre shares has averaged out to 16%. At their current price around $37, investors can pick up Flight Centre shares for less than 15x last year’s profits and at a dividend yield of 4.1% fully franked.

  1. WAM Capital Limited (ASX: WAM)

This one may be a little left-of-field because it’s a listed investment company (LIC). WAM Capital invests its founding shareholders’ money for a superior return to the market. Since its inception in August 1999, the WAM Capital investment portfolio has returned an average of 10.4% more than the All Ordinaries Accumulation Index.

What WAM Capital doesn’t pay out in dividends it keeps in the portfolio to be reinvested. Together with dividend payments, an investment in WAM Capital’s shares has returned an average of 10.6% per year over 10 years or 13.9% over five years. The company’s shares currently trade on a trailing dividend yield of 6.4% fully franked. Of course, dividends may not be paid every year – nor is its share price performance guaranteed – but over the long term, WAM Capital has proven to be made of the right stuff.

Foolish takeaway

When you can combine capital growth and reliable income, it’s a fantastic combination. Although the above three companies have chalked up great performances over recent years, I suggest you do your own research to determine whether or not they are still worthy recipients of your hard-earned cash in coming years.

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Forget BHP and Woolworths. This "dirt cheap" company is growing like gangbusters, and trading on a 5.6% dividend yield, FULLY FRANKED (8% gross). With interest rates set to stay at these low levels for years to come, for hungry investors, including SMSFs, this ASX company could be the "holy grail" of dividend plays for 2016.

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Motley Fool writer/analyst Owen Raszkiewicz has a financial interest in Flight Centre and Woolworths. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia owns shares of Altium. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.