"This dividend represents a 5.5% increase over the corresponding dividend one year ago, and continues the company's record of consecutive quarterly dividend increases," says Kenneth B. Roath, chairman/CEO of HCPI.The cash dividend will be paid on May 18, 2001 to shareholders of record as of the close of business on May 3, 2001. Because of this latest increase in dividends, the REIT's annualized rate of distribution also increased to $3.08 per share, from $2.92 per share a year ago.

HCPI's board also declared cash dividends on its Series A, B and C preferred stock of $0.492188, $0.54375 and $0.5375 respectively. These dividends will be paid on June 29, 2001 to shareholders of record as of close of business June 15, 2001.

HCPI is an equity REIT investing directly or through joint ventures in healthcare-related facilities. The company's investment portfolio, as of March 31, 2001 consisted of 412 facilities in 42 states. <pThe company's investments include 173 long-term care facilities and 86 congregate-care and assisted-living facilities, 80 medical office buildings, 21 acute-care hospitals, nine freestanding rehabilitation hospitals and 43 physician group practice clinics.