IRVINE: HCP Inc. has announced a hike of 3.7% in its quarterly dividend rate to 56.5 cents from 54.5 cents paid earlier. HCP will pay the new dividend on Feb 24, 2015 to shareholders of record as on Feb 9.
However, despite the dividend hike, HCP shares suffered a fall of 1.38% on Jan 30 on broader market concerns. The REIT market sentiments remained pessimistic with anticipations of sooner-than-expected interest rate hikes due to the Fed’s recognition of the “solid pace” of U.S. economic growth compared with its earlier view of “a moderate pace.”
Based on the increased rate, the annualized dividend comes at $2.26 per share, resulting in an annualized yield of about 4.8%.
HCP has been consistent in enhancing its shareholders’ wealth by dividend payouts. In fact, this healthcare REIT’s latest dividend hike marks its 30th consecutive year of increasing its dividend per share…