Welcome to our dedicated page for Hawaiian Elec Industries news (Ticker: HE), a resource for investors and traders seeking the latest updates and insights on Hawaiian Elec Industries stock.
Hawaiian Electric Industries, Inc. (HE) serves as Hawaii's primary energy provider, delivering regulated electricity services to 95% of the state's population through its utility subsidiaries. This dedicated news hub consolidates all material developments affecting the company's operations and financial position.
Investors and stakeholders will find authoritative coverage of earnings announcements, regulatory filings, infrastructure investments, and sustainability initiatives. The curated selection includes press releases on rate adjustments, grid modernization projects, and strategic partnerships that shape Hawaii's energy future.
Key updates span operational milestones, regulatory compliance achievements, and financial performance metrics. Content is rigorously verified to ensure alignment with SEC disclosure standards and industry reporting best practices.
Bookmark this page for streamlined access to HE's latest corporate developments, executive commentary, and market-moving announcements. Cross-reference updates with regulatory documents through provided source links for complete due diligence.
Constance "Connie" Lau will retire as president and CEO of Hawaiian Electric Industries (HEI) after 15 years, effective January 1, 2022. Scott Seu, current CEO of Hawaiian Electric, will take over as CEO of HEI, while Shelee Kimura will succeed Seu as the utility's president and CEO, marking her as the first female leader in the company's history. The leadership transition is part of a multi-year succession plan aimed at advancing HEI's commitment to clean energy and community service. The new team collectively has over 75 years of experience with HEI.
Hawaiian Electric Industries (NYSE - HE) reported a consolidated net income of $63.9 million and EPS of $0.58 for Q2 2021, up from $48.9 million and $0.45 in Q2 2020. The utility's performance-based regulation (PBR) framework began in June, allowing for customer savings. American Savings Bank's net income rose to $30.3 million, attributed to a credit-driven reserve release. HEI's board declared a $0.34 quarterly dividend, yielding 3.1% based on an August 6 share price of $43.83. Overall, HEI continues to focus on cost efficiencies and renewable energy integration.
On August 6, 2021, Hawaiian Electric Industries (HE) declared a quarterly cash dividend of $0.34 per share, payable on September 10, 2021. Shareholders of record by August 19, 2021 can expect this dividend, reflecting an annual rate of $1.36 per share and a yield of 3.1% based on the closing price of $43.83. HE has consistently paid dividends since 1901, demonstrating strong financial health and commitment to shareholders.
American Savings Bank reported net income of $30.3 million for Q2 2021, an increase from $29.6 million in Q1 2021 and $14.0 million in Q2 2020. The net interest income rose to $60.8 million from $57.1 million quarter-over-quarter, aided by fee income and a low cost of funds of 0.07%. A credit-driven reserve release resulted in a negative provision for credit losses of $12.2 million. Total loans decreased by 2.7% while deposits increased by 6.6%.
Hawaiian Electric Industries (HEI) will announce its second quarter 2021 financial results on August 9. American Savings Bank, a subsidiary of HEI, will disclose its results earlier on July 30. Following the earnings report on August 9, HEI will hold a conference call at 10:15 a.m. Hawaii time to discuss consolidated earnings and guidance. Interested parties can join via phone or through HEI's website. HEI supplies power to approximately 95% of Hawaii's population and provides various financial services through American.
Hawaiian Electric Industries (NYSE: HE) reported a strong financial performance for Q1 2021, with consolidated net income of $64.4 million and EPS of $0.59, compared to $33.4 million and $0.31 in Q1 2020. The utility sector saw increased earnings due to cost management and operational efficiency. American Savings Bank also reported net income of $29.6 million, attributed to a release of $8.4 million in credit loss provisions. HEI declared a quarterly dividend of $0.34 per share, reflecting a 3.1% dividend yield.
On May 6, 2021, Hawaiian Electric Industries (HE) declared a quarterly cash dividend of $0.34 per share, payable on June 10, 2021, to shareholders of record as of May 20, 2021. This dividend reflects an annual rate of $1.36 per share, translating to a 3.1% dividend yield based on the $43.47 closing share price on the declaration date. HEI has a history of uninterrupted dividend payments since 1901, demonstrating a commitment to returning value to shareholders.
American Savings Bank reported a net income of $29.6 million for Q1 2021, up from $15.7 million in Q4 2020 and $15.8 million in Q1 2020. Despite challenges in bank profitability, strong residential mortgage production and ASB CARES loans were highlighted. Net interest income decreased to $57.1 million from $58.5 million in Q4 2020. A provision for credit losses was released, improving the bank's balance sheet. Total loans stood at $5.3 billion, while deposits rose by 4.9% to $7.7 billion.
Hawaiian Electric Industries (HEI) will announce its first quarter 2021 financial results on May 7, 2021. American Savings Bank, a subsidiary of HEI, will report its results on April 30, 2021. A conference call to discuss consolidated earnings and earnings guidance will occur on May 7 at 7:30 a.m. Hawaii time. Interested parties can access the call by phone or through HEI's website. Additionally, a replay will be available online after the event until May 21, 2021. HEI serves around 95% of Hawaii's population and focuses on clean energy initiatives.
