High-yielding dividend stocks are great for long-term investors. What's even better are stocks with high payouts that also increase their dividend payments. And three stocks that made generous rate hikes within the past year are National Research Corporation (NRC -1.98%), United Parcel Service (UPS 0.53%), and HP (HPQ 0.11%).

These stocks pay more than the S&P 500 and have recently increased their dividend payments by 25% or more. They offer the best of both worlds: high yields and high dividend growth rates. Are these stocks no-brainer buys for income investors?

1. National Research Corporation

National Research Corporation (NRC) is a healthcare company focused on analytics and generating insights that companies can use to improve experiences for both their patients and employees. It offers "human understanding," enabling businesses to become familiar with those whom they serve, including their preferences, needs, and wants.

The company's solutions are on a subscription basis, so they offer a fair bit of stability. As a result, NRC's financials have been growing steadily over the years, with revenue increasing 11% to $148 million last year. And since 2018, the top line has grown by 24%. Its diluted per-share profit is $1.42 over the trailing 12 months, putting its payout ratio at 68%.

The company suspended its dividend payments during the early stages of the pandemic and then reinstated them, initially at a lower level. Currently, the quarterly payment is $0.24, just 14% higher than the $0.21 it was paying in March 2020.

With its payout ratio not leaving too much room for increases, the business not generating much growth, and a turbulent track record when it comes to dividends, this isn't a stock dividend investors should assume will continue making big rate hikes in the future.

But at 2.7%, its yield is still better than what the S&P 500 averages (1.5%), and it could make for a good income stock to hang on to now that the healthcare industry looks to be returning to normal.

2. United Parcel Service

United Parcel Service (UPS) is a top logistics company that has a crucial role in e-commerce, shipping products all over the globe (it serves more than 220 countries).

In February, it announced an impressive 49% increase to its dividend as it benefited from strong demand during the pandemic. But unlike NRC, the logistics company didn't cut or suspend its payouts in recent years. UPS has been increasing its dividend payments consistently since 2010. Its yield of 3% is higher than NRC's, and with a payout ratio of around 40%, there's still plenty of room for the company to make more rate hikes in the future.

Even with the economy heading for a possible recession, UPS' business remains strong. For the three-month period ended June 30, its revenue of $24.8 billion rose by 5.7% year over year and its operating profit of $3.5 billion also increased by 8.5%. In another sign that the business is doing well, UPS is planning to buy back up to $3 billion in shares this year.

This is a safe dividend stock to own, and while I wouldn't expect to see 40% rate hikes on a consistent basis just due to its sheer size, the company could make large increases to its dividend in the future, especially once economic conditions improve.

3. HP

HP is known for its computer products, including its popular printers, laptops, and accessories. The business is in a good position to benefit from more people working remotely and businesses updating their IT infrastructure in order to do more of their operations in the cloud. At 3.2%, HP's yield is the highest on this list. And last November, the company raised its quarterly dividend payments by 29%, from $0.1938 to $0.25. 

On Tuesday, the company reported results for the third quarter (ended July 31), and while sales of $14.7 billion declined 4.1% year over year, net earnings were still up 1%. HP credits its "disciplined pricing and cost management" for its ability to still post a strong profit despite softening demand. Still, the shares sank 7% the following day on soft guidance.

Next quarter, HP anticipates its diluted per-share profit to be between $0.44 and $0.54 -- which is still easily more than its quarterly dividend. At that kind of run rate, that would put the stock's payout ratio between 46% and 57%. And that's with HP factoring in acquisition-related expenses due to its purchase of Poly, a tech company that offers hybrid work solutions for businesses. These expenses are non-recurring in nature, and that means HP's bottom line should be even stronger down the road.

HP could be a solid dividend stock to own as more rate hikes are probable given how low its payout ratio is and how well it's doing right now, with the economy a bit wobbly.