Dividend stocks can be excellent sources of recurring income for your portfolio. Stocks that increase their payouts over time can be even more valuable for long-term investors, as this income could rise in the years ahead.

Three stocks that recently boosted their dividend payments are Eli Lilly (NYSE: LLY), Mastercard (NYSE: MA), and Enbridge (NYSE: ENB). Here's a closer look at why these three can be excellent dividend stocks to buy and hold for the long haul.

Eli Lilly is known for being a solid growth stock, but investors shouldn't discount its potential to be a solid income-generating investment as well. Earlier this month, the company announced an impressive 15% increase in its dividend.

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Source Fool.com