HEALTH AND REHABILITATION <HRP> INITIAL PAYOUT Health and Rehabilitation Properties Trust said it declared an intitial dividend of 55 cts per share for the period ending March 31, 1987 The dividend will be payed May 20 to shareholders of record on April 20, the company said. The company said it organized in late 1986 and closed its intitial public offering of shares Dec 23, 1986. The initital dividend includes five cts attributable to the period between Dec 23 and 31, 1986, and 50 cts attributable to the first qtr of 1987, ending March 31, 1987.