HCP Declares Quarterly Cash Dividend on Common Stock

HCP (NYSE:HCP) announced that its Board of Directors declared a quarterly common stock cash dividend of $0.565 per share. The dividend will be paid on August 25, 2015 to stockholders of record as of the close of business on August 10, 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. 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 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.

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HCPTimothy M. SchoenExecutive Vice President and Chief Financial Officer(949) 407-0400