Health Care Property Raises Cash Dividend

Health Care Property Investors Inc., a Costa-Mesa based real estate investment trust, said it has raised its cash dividend a penny a share to 61 cents per share of common stock.

The dividend is payable May 20 to shareholders of record as of May 4.

The increased dividend is attributed to Health Care Property’s acquisition of more than 40 health-care facilities last year, increasing the cash flow to the company, said James G. Reynolds, Health Care Property chief financial officer. The company, which specializes in medical facilities and nursing homes, owns about 93 properties. In its fiscal 1986, Health Care Property posted a $12.97-million net income on revenues of $28.8 million.