Companies that increase their dividend payments can make for great long-term investments since owning shares of those businesses means that you'll collect more in dividend income over time. But in many cases, companies may elect to make modest increases that aren't all that meaningful, possibly to keep a streak of dividend increases going.

Two companies, however, that recently announced generous increases of 7% or more include Quest Diagnostics (NYSE: DGX) and American Express (NYSE: AXP). Here's a closer look at where their dividend payments are today and if they're good dividend stocks to buy and hold.

Diagnostics and research company Quest Diagnostics announced on Feb. 2 that it would be raising its quarterly dividend payment by 7.6%. Shareholders will now be collecting $0.71 per share, up from the previous payments of $0.66.

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Source Fool.com