Ventas, Inc. (NYSE: VTR), an S&P 500 company, is a leading real estate investment trust (REIT), with a highly diversified portfolio of more than 1,600 seniors housing and healthcare properties in the United States, Canada and the United Kingdom. Approximately 75% of our NOI, pro forma for the HCT transaction announced on January 16, 2015 is derived from private pay, non-government sources.
Ventas has delivered consistent, superior long-term returns to shareholders for more than a decade, outperforming both the S&P 500 and the MSCI US REIT Index, while providing compound annual dividend growth of 9%. We are disciplined acquirers with rigorous investment standards and a well-earned reputation for bringing both creativity and financial strength to completing transactions of all sizes and complexity. At the same time, we have maintained reliable internal cash flow growth from our high-performing portfolio.
By maintaining an outstanding balance sheet and ample liquidity, we continue to improve our cost of capital and enhance stakeholder value. Our leadership team is committed to building on our legacy of excellence that shareholders and customers have come to expect.