HEI INCREASES QUARTERLY DIVIDEND TO $0.35 PER SHARE

Rhea-AI Summary

On February 11, 2022, Hawaiian Electric Industries (HEI) announced an increase in its quarterly cash dividend from $0.34 to $0.35 per share, payable on March 10, 2022. Shareholders on record by February 24, 2022 will receive this dividend, translating to an annual rate of $1.40 per share. The dividend yield stands at 3.4% based on a closing share price of $41.29. HEI has consistently paid dividends since 1901, demonstrating its commitment to returning value to shareholders.

Positive

• Quarterly dividend increased from $0.34 to $0.35 per share.
• Consistent dividend payments since 1901 indicative of financial stability.
• Annual dividend rate of $1.40 per share enhances income for shareholders.
• Dividend yield of 3.4% provides attractive returns based on share price.

Negative

• None.

HONOLULU, Feb. 11, 2022 /PRNewswire/ -- On February 11, 2022, the Board of Directors of Hawaiian Electric Industries, Inc. (HEI) (NYSE: HE) increased HEI's quarterly cash dividend from $0.34 to $0.35 per share, payable March 10, 2022, to shareholders of record at the close of business on February 24, 2022 (ex-dividend date of February 23, 2022). The dividend is equivalent to an annual rate of $1.40 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 11, 2022 of $41.29, HEI's dividend yield is 3.4%.

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 Securities and Exchange Commission (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.

About HEI

The HEI family of companies provides the energy and financial services that empower much of the economic and community activity of Hawaii. HEI's electric utility, Hawaiian Electric, supplies power to approximately 95% of Hawaii's population and is undertaking an ambitious effort to decarbonize its operations and the broader state economy. Its banking subsidiary, American Savings Bank, is one of Hawaii's largest financial institutions, providing a wide array of banking and other financial services and working to advance economic growth, affordability and financial fitness. HEI also helps advance Hawaii's sustainability goals through investments by its non-regulated subsidiary, Pacific Current. For more information, visit www.hei.com.

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 Hawaiian Electric Industries (HE)?

The new quarterly dividend amount for Hawaiian Electric Industries (HE) is $0.35 per share.

When is the dividend payment date for HE?

The dividend payment date for HE is March 10, 2022.

What is the dividend yield for Hawaiian Electric Industries (HE)?

The dividend yield for Hawaiian Electric Industries (HE) is 3.4% based on a closing share price of $41.29.

How long has HEI been paying dividends?

Hawaiian Electric Industries (HEI) has been paying dividends uninterrupted since 1901.

What is the record date for the new dividend payment for HE?

The record date for the new dividend payment for HE is February 24, 2022.