Companies have been increasingly generous in distributing a portion of their profits to shareholders over the past year. U.S. companies paid a net $16 billion more in dividends during the second quarter, according to S Dow Jones Indices. That was slightly more than the net increase in the first quarter and about four times higher than in the prior-year period.

Many companies contributed to the increase by initiating a dividend or raising their payout. However, two companies stood out as the biggest drivers of the boost in dividend payments last quarter: Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) and Meta Platforms (NASDAQ: META). Here's a closer look at these two magnificent dividend stocks.

Tech titan and "Magnificent Seven" member Alphabet initiated a regular quarterly dividend in late April. It made its first payment of $0.20 per share in mid-June.

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Source Fool.com