HCP Declares Increased Quarterly Cash Dividend on Common Stock for 29th Consecutive Year

HCP (NYSE:HCP) announced that its Board of Directors declared an increased quarterly cash dividend of $0.545 per share on its common stock, compared with $0.525 per share in the previous quarter. This is the 29th consecutive year that HCP has increased its dividend per share.

The annualized rate of distribution per share for 2014 is $2.18, compared with $2.10 for 2013, which represents a 3.8% increase.

The quarterly cash dividend will be paid on February 25, 2014 to stockholders of record as of the close of business on February 10, 2014.

About HCP

HCP, Inc. is a fully integrated real estate investment trust (REIT) that invests primarily in real estate serving the healthcare industry in the United States. The Company's portfolio of assets is diversified among five distinct sectors: senior housing, post-acute/skilled nursing, life science, medical office and hospital. A publicly traded company since 1985, HCP: (i) was the first healthcare REIT selected to the S&P 500 index; (ii) has increased its dividend per share for 29 consecutive years; (iii) is the only REIT included in the S&P 500 Dividend Aristocrats index; and (iv) is a global leader in sustainability as a member of the CDP, Dow Jones and FTSE4Good sustainability leadership indices, and the Global and North American healthcare sector leader for GRESB. For more information regarding HCP, visit the Company's website at www.hcpi.com.

HCP, Inc.Timothy M. SchoenExecutive Vice President and Chief Financial Officer562-733-5309