2 stocks for growth and dividend investors to consider

Investor appetite for Synectics(LSE: SNX) has leapt in Tuesday trading following the release of latest financials. The stock was last 11% higher on the day and dealing at levels not seen since early May.

The security and surveillance specialist advised that revenues rose 5% higher during December-May, to £33.7m, a result that powered pre-tax profit to £1.3m from £0.2m a year earlier. This prompted the company to affirm its expectations for the full year ending November 2017.

Synectics advised that it has clocked up new orders worth £41.8m in the first half, up from £38.4m in the corresponding period last year. And this powered the company's order book to £33.7m, up 28% from the end of fiscal 2016.

This stellar performance has encouraged the AIM business to shell out a 1p per share interim dividend, the first midway payment for four years.

A pretty picture

And Synectics has painted a promising picture looking ahead, commenting that "the market for high-end electronic security and surveillance worldwide is fundamentally strong and likely to remain so."

While the company cited current economic and political uncertainty as a reason for caution, it added that "the state of Synectics' current contracts and order book give us confidence that the Group's prospects for the remainder of this financial year and beyond are good."

The City expects it to keep making tracks and expects earnings at the Warwickshire business to rev higher in the coming years -- rises of 10% and 33% are pencilled in for this year and next.

I reckon a subsequent forward P/E ratio of 16.2 times is decent value given Synectics' ample growth opportunities as the emphasis on surveillance grows. And the AIM play also offers plenty of reward to dividend chasers, at least if broker projections are to be believed.

A 4p per share payout is forecast for fiscal 2017, up from 2p last year and yielding 1.8%. And the yield leaps to 2.6% for next year thanks to predictions of a 6p dividend.

Food favourite

Greencore (LSE: GNC) is another stock expected to remain a hit for growth hunters.

Sure, earnings expansion is expected to slow to a trickle in the current fiscal year ending September 2017. But the bottom line is anticipated to crank back into life from next year thanks to a bright outlook in its UK and US marketplaces, helped by recent acquisitions and the massive investment it has made in its manufacturing and distribution capabilities. An 11% profits rise is currently anticipated for 2018.

This results in a very attractive prospective P/E multiple of 13.3 times. And the food manufacturer also provides plenty of potential for income chasers.

Greencore's dividend of 5.47p per share last year is expected to leap to 5.9p in fiscal 2017, resulting in a 2.5% yield. And a further dividend hike is predicted for next year, an estimated 6.4p reward driving the yield to 2.8%.

I reckon Greencore could prove a very lucrative share selection in the years ahead.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK owns shares of and has recommended Greencore. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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