Hadith: Whenever the Prophet (may Allah's peace and blessings be upon him) finished eating, he would say: Allah be praised with an abundant, sincere, and blessed praise. O our Lord, You are not in need of anyone, and we cannot do without Your favor nor dispense with it

عن أبي أمامة رضي الله عنه أن النبي صلى الله عليه وسلم كَانَ إذا رَفَعَ مَائِدَتَهُ، قال: «الحَمْدُ للهِ حَمْدًا كَثِيرًا طَيِّبًا مُبَارَكًا فِيهِ، غَيْرَ مَكْفِيٍّ، وَلَا مُوَدَّعٍ، وَلَا مُسْتَغْنًى عَنْهُ رَبَّنَا».
[صحيح] - [رواه البخاري]

Abu Umāmah (may Allah be pleased with him) reported: Whenever the Prophet (may Allah's peace and blessings be upon him) finished eating, he would say: "Allah be praised with an abundant, sincere, and blessed praise. O our Lord, You are not in need of anyone, and we cannot do without Your favor nor dispense with it."
[Authentic hadith] - [Narrated by Bukhari]

Explanation

Meaning of the Hadīth: The Prophet (may Allah's peace and blessings be upon him) used to teach his Companions (may Allah be pleased with him) the Sunnah in act and word. This Hadīth includes one of the supplications that the Prophet (may Allah's peace and blessings be upon him) used to say immediately after finishing eating while starting to clear away the plates in front of him. “Allah be praised”, i.e. praise and thanks are due to Allah alone, without anyone else. “Abundant praise”, i.e. a plentiful praise that befits Allah's Majesty, Beauty, and Perfection, as well as abundant thanks equivalent to His uncountable blessings and bounties, as Allah, the Almighty, says: {And if you should count the favors of Allah, you could not enumerate them} [Sūrat An-Nahl: 18]. “Sincere praise”, i.e. free of any intent to show off or seek fame. “Blessed praise”, i.e. accompanied by the ultimate acceptance, because the act, which is blessed and accepted, is good, and vice versa. “You are not in need of anyone”, i.e. we praise Allah, Blessed and Exalted, as He is the One Who is Sufficient, Who feeds his creatures and is never fed, and is the One Who needs no one. We also praise Allah, the Almighty, because we cannot do without his favor nor dispense with it.