5 fast growing tech stocks with sweet dividend yields

A common misconception amongst Australian investors is that we must have a US or European stock-broking account to gain access to fast growing technology companies. However, there are many profitable technology and communications companies listed right here on the ASX which you can consider adding to your portfolio.

Here are five of my favourite ASX tech and communications stocks which not only offer growth potential but handsome dividend yields.

  1. BigAir Group Ltd (ASX: BGL) may not offer a breathtaking dividend but its growth potential more than makes up for it. The provider of wireless network solutions, for business and campus environments, has risen a whopping 700% in the past five years.
  2. Altium Limited (ASX: ALU) develops software used for the design of electronic products. Despite a track record of exceptional growth and analysts’ estimates for rising earnings per share, Altium’s stock is reasonably priced and offers a trailing 4.3% dividend yield.
  3. Hills Ltd (ASX: HIL) also offers a handsome dividend yield but its payout comes with 100% franking. Hills recently declared a profit of $24.8 million for fiscal year 2014. This followed its transformation from a loss-making steel business to a healthcare and security communications company.
  4. M2 Group Ltd (ASX: MTU) is another stand-out growth stock offering a substantial dividend and growth potential. As the owner of Dodo, Commander, Eftel and Primus, M2 has a huge customer base and will directly benefit from the ‘Internet of Things’.
  5. Nearmap Ltd (ASX: NEA) provides geospatial imaging for all manner of customers. Think of it like Google Maps, only clearer and more frequently updated. Although a number of risks persist, Nearmap is growing its application base and geographical presence, with test flights currently underway in the giant U.S market.

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Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any of the mentioned companies.  

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