Dividend stocks are some of the most attractive investments for us investors. Not only do they provide stability during volatile markets, but they also put cash directly into our pockets on a quarterly basis. In today’s interest rate environment, dividend stocks are an excellent source of passive income. Now, what if we could combine the safety of dividends with the high growth potential of emerging companies? We’d get the best of both worlds – substantial passive income in addition to significant capital appreciation over time.

There are definitely quality stocks out there that can deliver on both fronts due to their strong margins and earnings growth. These dividend growth stocks provide the stability we desire, along with the ability to deliver multi-bagger returns over the long-run. Let’s look at three such dividend growth stocks to buy right now!

Hannon Armstrong Sustainable Infrastructure (HASI) An image of a hand holding a light bulb wrapped in leaves, surrounded by green energy source icons

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Before you pass on Hannon Armstrong Sustainable Infrastructure (NYSE:HASI), it’s worth taking a closer look at this climate-positive investment firm. The company has invested billions across a number of renewable energy sectors. Many investors shy away from renewable companies, thinking they’re money pits. But that’s not always the case, and this stock has started to bottom out after delivering blowout financial results.

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Hannon Armstrong generated $37 million in revenue in Q4, up an impressive 73% year-over-year. Notably, this result beat analyst expectations by almost 25%. Indeed, it’s easy to see why the stock has surged 65% over the past six months. I believe this exceptional growth trajectory can continue as both the government and private sector pour into renewable energy companies. With sales expected to climb 28% this year and 21% in 2025, HASI stock could definitely be a big winner. Plus, you’re getting a generous dividend yield of around 6.1% as a sweetener.



Not many stocks can offer such tremendous growth paired with a solid income stream. Hannon Armstrong is also expanding into promising new verticals like grid-enhancing technologies and climate-positive agriculture. Management expects to deploy another $1 billion into climate solutions annually through 2026. Don’t underestimate dividend growth stocks like this one!

Opera (OPRA) Slot machine graphic in gold in silver with blue background displaying Bitcoin, Tether and Litecoin logos, symbolizing crypto slot machine/gambling

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Opera (NASDAQ:OPRA) is another dividend growth stock worth keeping an eye on. This company has been executing well, leading to impressive growth in recent years. Opera has carved out lucrative niches in crypto and gaming, leading to soaring popularity for its browser among gamers. While Chrome remains the dominant option for users, a sizable number of users now prefer Opera’s gaming browser for built-in features like AI chat and network bandwidth controls.

With the company’s earnings per share expected to grow from 96 cents to $2 between 2024 and 2028 alongside 10%-15% annual revenue growth, OPRA stock appears to be a cheap option trading at just 16-times forward earnings, despite its massive potential. Opera achieved 46.4% average annual revenue growth over the past three years, showcasing its momentum. I believe the stock could cruise much higher in the long-run.

Opera is also turning heads with more than 313 million monthly active users on its platforms. The company also had 300% ARPU growth over the past four years.

Currently, OPRA stock trades at just 3-times sales despite leadership in massive markets. But with diversified revenue streams and a dividend yield above 2.6%, this is a compelling growth stock to buy now.

Innovative Industrial Properties (IIPR) Marijuana Cannabis Leaf Stock Market Symbol Company Business 3d Illustration. Cannabis stocks

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Innovative Industrial Properties (NYSE:IIPR) is one of my top dividend picks despite its huge exposure to the cannabis industry. Many investors fear this real estate investment trust due to its focus on cannabis-related companies. But I view it differently.

IIPR doesn’t engage in the cannabis business directly. It purchases facilities and then leases them back to cannabis companies under long-term agreements. Investors previously thought tenants would stop paying rent, but occupancy rates consistently remain above 95%, proving the critics wrong.

IIPR stock remains in recovery mode, as it is still down 64% from all-time highs. However, I believe this stock is now bottoming out, and investors are starting to see its impressive upside potential. Despite analyst expectations for slower growth, I believe strong top-line expansion can return as cannabis use becomes more mainstream. Germany just legalized adult-use cannabis, and stocks like IIPR could soar if this plays out in other regions.

To top it off, this REIT provides an impressive 22.4% three-year average annual growth rate. With a dividend yield of around 7.3%, IIPR stock offers income investors a compelling opportunity. The company has raised its dividend for the past six years consecutively, providing the kind of dividend growth trajectory many investors want to see as well.

On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on LinkedIn.

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