The best dividend growth stocks have long histories of increasing their dividends once each year. However, a small handful of companies do even better than that by raising their payouts every single quarter like clockwork. Three such income-growth gems are Enterprise Products Partners (NYSE:EPD), Phillips 66 Partners (NYSE:PSXP), and Noble Midstream Partners (NYSE:NBLX).

55 and counting

Enterprise Products Partners has increased its distribution to investors for an impressive 55 straight quarters, and 64 times overall since going public about 20 years ago. The energy midstream MLP has been able to deliver that steady growth by building and buying cash-generating assets over the years while maintaining a strong financial profile. In fact, the company maintains one of the highest credit ratings among MLPs by keeping its leverage low and distribution coverage high.  

A hand giving out $100 bills.

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Those solid financials put Enterprise in the position to increase its 5.8%-yielding payout each quarter for at least the next few years. It also doesn't hurt that the company finished up $4.5 billion of growth projects last year, and completed another $400 million in expansions so far this year, which should significantly increase cash flow in the near term. Meanwhile, the company has another $5.3 billion of growth projects under construction and more in development that should steadily increase cash flow over the next few years. This growing cash-flow stream, when combined with the company's moves to further improve an already top-tier financial profile, increases the odds that Enterprise can continue its quarterly distribution growth streak.

Shifting into second gear

In mid-2013, refining giant Phillips 66 (NYSE:PSX) formed Phillips 66 Partners to acquire and operate its midstream assets. Phillips 66's aim at the time was to slowly sell those assets to its MLP, which would give it the cash flow to support 30% compound annual distribution growth through the end of 2018. With Phillip 66 Partners increasing its payout in 18 consecutive quarters, and by a 31% compound annual growth rate, it's well on its way to achieving that goal.

The main fuel driving Phillips 66 Partners' distribution growth over the past several years has been a steady diet of acquisitions from Phillips 66. While this has transferred the bulk of the refiners' midstream assets over to its MLP, that doesn't mean Phillips 66 Partners' distribution growth will dry up after this year. That's because the company has secured several expansion projects, which will help grow cash flow in the future, giving it more fuel to continue increasing the payout. While Phillips 66 Partners likely won't expand its 5.4%-yielding payout as quickly as it had in the past, the company should be able to still grow it at a healthy pace going forward.

Just getting started

Noble Midstream Partners is much earlier in its lifecycle since it just went public in late 2016. However, the company has increased its payout every single quarter since that time, including by an impressive 24% over the past year. Meanwhile, there's plenty more growth ahead given what the company has coming down the pipeline.

Noble Midstream Partners has invested $1.2 billion since its IPO to expand its midstream network, including completing organic expansion projects, third-party acquisitions, and a drop-down transaction with parent Noble Energy (NYSE:NBL). Those investments set the stage for Noble Midstream to grow cash flow at a rapid pace over the next several years, which should support 20% annual distribution growth through 2020. Meanwhile, there's material upside to that outlook if the company secures new projects that are currently under consideration or completes additional drop-down transactions with Noble Energy. This forecast suggests that Noble Midstream Partners should be able to grow its 3.8%-yielding payout by a healthy rate every quarter for at least the next five years.

Why wait a whole year?

Most investors need to wait a year before they get a raise from their dividend stocks. This trio, on the other hand, gives their investors more money each quarter. That trend appears poised to continue, which makes them great options for investors who are seeking a steadily growing income stream.

Matthew DiLallo owns shares of Enterprise Products Partners and Phillips 66. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.