HCP Declares Increased Quarterly Cash Dividend on Common Stock for 30th Consecutive Year

HCP (NYSE:HCP) announced that its Board of Directors declared an increased quarterly cash dividend of $0.565 per share on its common stock, compared with $0.545 per share in the previous quarter. This is the 30th consecutive year that HCP has increased its dividend per share.

The annualized rate of distribution per share for 2015 is $2.26, compared with $2.18 for 2014, which represents a 3.7% increase.

The quarterly cash dividend will be paid on February 24, 2015 to stockholders of record as of the close of business on February 9, 2015.

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. HCP'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 30 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, as well as the GRESB Global Healthcare Sector Leader. For more information regarding HCP, visit the Company's website at www.hcpi.com.

HCP, Inc.Timothy M. Schoen, 949-407-0400Executive Vice President and Chief Financial Officer