HEI Increases Quarterly Dividend To $0.34 Per Share

Rhea-AI Summary

On February 9, 2021, Hawaiian Electric Industries (HE) announced an increase in its quarterly cash dividend from $0.33 to $0.34 per share, payable on March 10, 2021, to shareholders of record as of February 25, 2021. This adjustment represents an annual rate of $1.36 per share, yielding 4.0% based on the closing price of $33.98 on the announcement date. HE has maintained uninterrupted dividend payments since 1901, reflecting its commitment to returning value to shareholders.

Positive

• Quarterly dividend increased from $0.33 to $0.34 per share.
• Annual dividend rate reaches $1.36 per share.
• Dividend yield is 4.0% based on the February 9 closing price.
• Uninterrupted dividend payments since 1901 exemplify company stability.

Negative

• None.

HONOLULU, Feb. 9, 2021 /PRNewswire/ -- On February 9, 2021, the Board of Directors of Hawaiian Electric Industries, Inc. (HEI) (NYSE: HE) increased HEI's quarterly cash dividend from $0.33 to $0.34 per share, payable March 10, 2021, to shareholders of record at the close of business on February 25, 2021 (ex-dividend date of February 24, 2021). The dividend would be equivalent to an annual rate of $1.36 per share.

Dividends have been paid on an uninterrupted basis since 1901. At the indicated annual dividend rate and based on the closing share price on February 9, 2021 of $33.98, HEI's dividend yield would be 4.0%.

HEI and Hawaiian Electric Company, Inc. (Hawaiian Electric) intend to continue to use HEI's website, www.hei.com, as a means of disclosing additional information; such disclosures will be included in the Investor Relations section of the website. Accordingly, investors should routinely monitor the Investor Relations section of HEI's website, in addition to following HEI's, Hawaiian Electric's and American Savings Bank's press releases, HEI's and Hawaiian Electric's SEC filings and HEI's public conference calls and webcasts. Investors may sign up to receive e-mail alerts via the "Investor Relations" section of the website. The information on HEI's website is not incorporated by reference into this document or into HEI's and Hawaiian Electric's SEC filings unless, and except to the extent, specifically incorporated by reference.

Investors may also wish to refer to the Public Utilities Commission of the State of Hawaii (PUC) website at dms.puc.hawaii.gov/dms to review documents filed with, and issued by, the PUC. No information on the PUC website is incorporated by reference into this document or into HEI's and Hawaiian Electric's SEC filings.

HEI supplies power to approximately 95% of Hawaii's population through its electric utility, Hawaiian Electric; provides a wide array of banking and other financial services to consumers and businesses through American, one of Hawaii's largest financial institutions; and helps advance Hawaii's clean energy and sustainability goals through investments by its non-regulated subsidiary, Pacific Current.

Contact:	Julie Smolinski	Telephone: (808) 543-7300
	Vice President, Investor Relations & Corporate Sustainability	E-mail:  ir@hei.com

 

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SOURCE Hawaiian Electric Industries, Inc.

FAQ

What is the new dividend amount for HE stock?

The new dividend amount for Hawaiian Electric Industries (HE) stock is $0.34 per share.

When is the dividend payment date for HE?

The dividend payment date for HE is March 10, 2021.

What is the dividend yield for HE based on the recent announcement?

The dividend yield for HE, based on the recent announcement and a closing price of $33.98, is 4.0%.

How long has HE been paying dividends?

Hawaiian Electric Industries has been paying dividends uninterrupted since 1901.