Were You Fooled by HCP?
HCP, Inc (HCP) raised its dividend today. Here is the report:
HCP boosts quarterly dividend to 46 cents a share
Monday February 2, 8:47 am ET
Health care REIT HCP increases quarterly dividend to 46 cents per share, payable on Feb. 23
LONG BEACH, Calif. (AP) — Health care real estate investment trust HCP Inc. said Monday it increased its quarterly dividend to 46 cents per share.In November, it paid a dividend of 45.5 cents per share.The new dividend rate is payable on Feb. 23 to shareholders of record Feb. 9.
The REIT also declared a dividend of 45.313 cents per share on its Series E cumulative redeemable preferred stock and 44.375 cents per share on its Series F cumulative redeemable preferred stock. These dividends are payable on March 31 to stockholders of record March 16.
HCP shares added 8 cents to $23.42 in premarket trading.
To be clear, the company raised the dividend by ½¢ from 45½¢ to 46¢ per share. Wow - big deal! If you only read the headline, you may have been bamboozled. I’m still short HCP. I know where they are headed. REIT dividend games are nothing but TELLS.
The next stop is Gambler’s Ruin.
By the way, I wonder how that deal in LG is going? Will it close? Will it be re-negotiated? Who has the leverage? I know what I would do if I was El Camino. There is always an optimal strategy when you have the nutz.