Lucrative investment deals call for much deliberation, making it imperative to keep a look out for opportunities that will help enrich your portfolio apart from taking economic fundamentals into consideration.

This year started on a distressful note, with recession fears looming large due to declining oil prices remaining and no turnaround in China’s economic scenario. However, the upward trend in oil prices has triggered a recovery in market conditions worldwide. Notably, the Nasdaq Composite Index and S&P 500 have scaled nearly 9% and 7%, respectively, over the past month.

Further, increased employment opportunities along with strong positive readings on manufacturing, consumer and housing fronts have lifted spirits. The recent job data has painted a rosy picture of the labor market, dispelling qualms over the health of the U.S. economy.

Meanwhile, China’s adoption of certain stimulus measures to counter volatility has reinstated hope of a steadier global economy.

Based on such bullish macro trends, we can hope for a marked improvement in broader market conditions in the near term, making it ideal for investors looking to put in their money into growth stocks for handsome returns.

Should You Bank on Only Growth?

However, in markets as capricious as these with investment outlooks changing every minute, investing in stocks based on only the growth factor might not be a very wise strategy.

Thus, to rule out risks pertaining to this, we advice investors to balance their portfolios by investing in high-yielding stocks with bright prospects. Notably, dividend stocks provide much downside protection through sizable yields and also act as a hedge against equity market risks, thereby shielding the portfolio from economic upheavals.

However, the trade-off between growth and dividends makes it a little tricky to zero-in on stocks with a high payout ratio and solid prospects. This is because the higher a company’s dividend payout is, the lesser is it likely to invest in growth.

Nonetheless, though rare, there are companies with efficient capital allocation policies in place that allow them to make high dividend payments and also invest in growth projects. Although it is like trying to find a needle in a haystack for the average investors, we have eased the process.

Zacks to the Rescue

With the help of the Zacks Stock Screener, we have zeroed-in on five stocks with solid growth prospects and a Zacks Rank #1 (Strong Buy) or 2 (Buy) along with a dividend yield of above 5%.

To ensure that our stocks stick to the growth track, we took the assistance of our new style score system and refined our screen further by adding a good Growth Style Score criteria.

Our Growth Style Score condenses all the essential metrics from the company’s financial statements to get a true sense of the quality and sustainability of its growth. Our research shows that stocks with Growth Style Scores of ‘A’ or ‘B’ when combined Zacks Rank #1 or #2 offer the best investment opportunities in the growth investing space.

5 Rock Solid Growth Stocks with Great Dividend Yields

Here are the five stocks that follow the ‘holy grail’ of dividend-growth investing and offer tremendous growth potential, high-dividend yield and consistent and safe operations.

Further, most of these picks have been seeing impressive earnings estimate revision activity of late, which suggests that analysts are getting increasingly bullish on the stocks.

Headquartered in Newport Beach, CA, Acacia Research Corp. (ACTG - Snapshot Report), through its subsidiaries, invests in, develops, licenses and enforces patented technologies in the U.S. This Zacks Rank #1 company has a dividend yield of over 14% and a Growth Style Score of ‘A.’ For 2016, the company estimates EPS growth of around 862.5%.

Moreover, analysts are quite bullish on the stock, leading to a 50.0% and 35.7% increase in the Zacks Consensus Estimate for 2016 and 2017 earnings, which now stand at 30 cents and 57 cents, respectively.

CorEnergy Infrastructure Trust, Inc. (CORR - Snapshot Report) seeks to primarily invest in the U.S. energy infrastructure sector. It also looks to acquire midstream and downstream U.S. energy infrastructure assets and concurrently enter into long-term triple net leases with energy companies.

This Zacks Rank #1 company has a dividend yield of nearly 19%. A Growth Style Score of ‘B’ and upward estimate revisions for 2016 suggest further bullishness ahead. Additionally, for 2016, EPS is likely to improve 28.9%, further underlining its potential.

Enviva Partners, LP (EVA - Snapshot Report) is a master limited partnership which owns and operates wood pellet production plants. It serves mainly in the U.S. and Europe and focuses on the production and distribution of utility-grade wood pellets to power generators. The company sports a Zacks Rank #1 and has a dividend yield of over 9%.

Upward estimate revisions for 2016 and 2017 earnings add to the optimism over the stock. The Zacks Consensus Estimate for 2016 and 2017 EPS has scaled nearly 9% and 10.6% to $1.58 and $1.77, respectively, over the last 60 days. Moreover, a Growth Style Score of ‘B’ and full-year 2016 EPS growth projection of 99.4% paint a rosy picture.

Macquarie Infrastructure Corp. (MIC - Snapshot Report) owns, operates and invests in a diversified group of infrastructure businesses, which provide basic, everyday services in the U.S. and other developed countries. The company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power and Energy (CP&E) and Hawaii Gas.

The company sports a Zacks Rank #1 and yields dividend of over 7%. Furthermore, a Growth Style Score of ‘B’ and projected EPS growth of 214.4% for 2016, lends more potential to the stock.

CM Finance Inc. (CMFN - Snapshot Report) is an externally managed, closed-end, non-diversified management investment company which primarily invests in middle-market U.S. companies. The company carries a Zacks Rank #2, a Growth Style Score of ‘B’ and has a dividend yield of over 17%.

Also, upward estimate revisions reinstate hope on the stock’s prospects. The Zacks Consensus Estimate for 2016 and 2017 has climbed 20.9% and 8.9% to $1.56 and $1.34 per share, respectively, over the last 60 days. Further, for full-year 2015, EPS is expected to grow a healthy 5.1%.

High-Yielding Growth Stocks a Fairly Safe Haven

Growth stocks could be big winners at this point with the markets rallying. However, betting on stocks just based on potential growth would be foolhardy. Thus, when the filter of fundamentals and high yield is added, the risk level is somewhat taken care of.