Welcome to our dedicated page for Hawaiian Electric Industries news (Ticker: HE), a resource for investors and traders seeking the latest updates and insights on Hawaiian Electric Industries stock.
Hawaiian Electric Industries, Inc. (HE) is the leading electricity provider in Hawaii, delivering power to 95% of the state's population through its subsidiaries: Hawaiian Electric Company, Inc., Hawaii Electric Light Company, Inc., and Maui Electric Company, Limited. The company operates on five islands, including Oahu, Hawaii, Maui, Molokai, and Lanai, ensuring reliable and sustainable energy for both residential and commercial customers.
Hawaiian Electric Industries is also the parent company of American Savings Bank, a prominent banking institution in Hawaii. Together, these entities focus on enhancing the quality of life for the communities they serve by fostering economic growth and environmental stewardship.
In recent developments, Hawaiian Electric Industries has undertaken several significant projects aimed at renewable energy integration and grid modernization. These initiatives are designed to reduce carbon emissions and increase the adoption of clean energy sources, aligning with Hawaii's ambitious goal of achieving 100% renewable energy by 2045.
A strong financial position supports Hawaiian Electric Industries' strategic vision, with steady revenue streams from both its utility operations and banking services. The company's commitment to innovation and sustainability is reflected in its ongoing partnerships with technology providers and renewable energy developers.
Hawaiian Electric Industries continues to play a vital role in Hawaii's infrastructure, ensuring energy security and contributing to the state's economic resilience. For investors and stakeholders, the company represents a stable opportunity with a focus on sustainable growth and community engagement.
Hawaiian Electric Industries, Inc. (HEI) is set to announce its second quarter 2022 financial results on August 8. Concurrently, its subsidiary, American Savings Bank, will release its results on July 29. A conference call to discuss HEI's consolidated earnings and 2022 earnings guidance will take place on August 8 at 10:15 a.m. Hawaii time. Investors can access the call via phone or online, with a replay available afterward. HEI is committed to providing ongoing disclosures through its Investor Relations website and engaging in sustainable operations across Hawaii.
Hawaiian Electric Industries, Inc. (NYSE: HE) reported a Q1 2022 net income of $69.2 million, up from $64.4 million in Q1 2021, with diluted earnings per share (EPS) of $0.63 versus $0.59 a year prior. The utility sector showed strong performance under the new regulatory framework, while the banking segment faced challenges with a decrease in year-over-year earnings. The company declared a quarterly dividend of $0.35 per share, contributing to a 3.4% dividend yield. HEI is addressing inflationary pressures and working towards climate action goals, emphasizing reliability and affordability for customers.
On May 5, 2022, Hawaiian Electric Industries, Inc. (HE) announced a quarterly cash dividend of $0.35 per share, scheduled for payment on June 10, 2022, to shareholders on record as of May 20, 2022. The annualized dividend amounts to $1.40 per share, reflecting a 3.4% yield based on the closing share price of $41.40. HEI has consistently paid dividends since 1901. Investors are encouraged to utilize HEI's website for ongoing disclosures and updates.
American Savings Bank (ASB), a subsidiary of Hawaiian Electric Industries (HE), reported a net income of $23.9 million for Q1 2022, up from $22.1 million in Q4 2021 but down from $29.6 million in Q1 2021. Net interest income rose to $59.0 million, reflecting improved yields despite a decline in fee income. The net interest margin held steady at 2.79%. ASB's credit quality showed improvement with a negative provision for credit losses, while total deposits increased by 1.4% to $8.3 billion. Return on average equity was 13.7%.
Hawaiian Electric Industries, Inc. (HEI) will announce its first quarter 2022 financial results on May 9, while American Savings Bank will report its results on April 29. HEI will hold a conference call at 10:15 a.m. Hawaii time to discuss consolidated earnings and guidance. Investors can access this call by dialing 1-844-200-6205 (U.S.) or 1-929-526-1599 (international). Replay options will be available post-event. HEI's website will continue to serve as a key source of information for investors.
Hawaiian Electric Industries (NYSE: HE) reported a consolidated net income of $246.2 million for 2021, translating to an earnings per share (EPS) of $2.25, a growth from $197.8 million and $1.81 in 2020. The utility segment achieved $8 million in customer savings, with plans to reduce carbon emissions by 70% by 2030. American Savings Bank also excelled, posting 76% net income growth, aided by a $25.8 million negative provision for credit losses. Additionally, HEI raised its quarterly dividend to $0.35 per share.
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.
American Savings Bank reported 2021 net income of $101.2 million, significantly up from $57.6 million in 2020. The bank's strong performance is attributed to solid credit quality and significant earning asset growth amid an improving Hawaii economy. In Q4 2021, net income reached $22.1 million, surpassing prior quarters. While net interest income increased to $237.2 million for the year, net interest margin decreased to 2.91%. Total deposits grew by 10.6% to $8.2 billion, yet total loans declined by 2.3% to $5.2 billion.
Hawaiian Electric Industries, Inc. (HEI) will announce its fourth quarter and full year 2021 financial results on February 14. Additionally, American Savings Bank, a subsidiary of HEI, will reveal its results on January 28. A conference call to discuss HEI's earnings and 2022 guidance will occur on February 14 at 11:15 a.m. Hawaii time. Investors are encouraged to access the webcast and related materials through HEI's website. HEI continues to support Hawaii's economic activity and sustainability through its utility and financial services.
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