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. (HEI) (NYSE: HE) generates frequent news as a Hawaii-based utilities holding company whose primary subsidiary, Hawaiian Electric, supplies power to approximately 95% of the state’s population. News coverage of HEI often centers on its electric utility operations on Oahu, Hawaii, Maui, Molokai and Lanai, its financial performance, wildfire-related developments and its progress toward decarbonization and renewable energy goals.
Recent HEI news releases highlight quarterly and annual financial results, including detailed segment information for the electric utility and holding and other companies. These updates describe the impact of Maui wildfire tort-related claims and settlements, insurance recoveries, cost deferrals approved by the Public Utilities Commission of the State of Hawaii, and the use of non-GAAP “Core” measures that exclude specified wildfire and strategic review costs. Earnings announcements are typically accompanied by webcasts and conference calls for investors.
HEI news also covers strategic actions such as the sale of over 90% of American Savings Bank, the sale of Pacific Current’s Hamakua Energy plant on Hawaiʻi Island, and the sale of Pacific Current’s solar and battery storage assets on Kauai, Oahu and Maui. Additional updates describe legislative developments related to wildfire liability caps, securitization for infrastructure resilience investments and support for reliable, affordable clean energy procurement.
Investors following HE (HEI) news can expect ongoing coverage of wildfire safety strategy, grid hardening and resilience measures, renewable portfolio standard progress, credit facility amendments, debt offerings by Hawaiian Electric and regulatory decisions that shape the company’s risk profile and capital plans. Bookmark this page to monitor HEI’s official announcements, financial updates and material events reported through press releases and SEC-related disclosures.
On August 4, 2020, the Board of Directors of Hawaiian Electric Industries (HEI) announced the maintenance of its quarterly cash dividend at $0.33 per share, payable on September 10, 2020. Shareholders of record will be noted as of the close of business on August 21, 2020, with an ex-dividend date of August 20, 2020. This aligns with HEI's long-standing practice of uninterrupted dividend payments since 1901, translating to an annual dividend rate of $1.32, providing a dividend yield of 3.7% based on the closing share price of $35.62 on August 4, 2020.
American Savings Bank reported a net income of $14.0 million for Q2 2020, down from $15.8 million in Q1 2020 and $17.0 million in Q2 2019. The decrease is attributed to lower lending margins and higher provisions for potential credit losses, totaling $15.1 million due to COVID-19 reserves. Net interest income fell to $56.7 million, with a net interest margin of 3.21%. Total loans grew by 6.45% to $5.5 billion, while deposits rose 12.1% to $7.0 billion. The bank did not pay dividends to HEI to support community lending.
Hawaiian Electric Industries (HE) will announce its second quarter 2020 financial results on August 6, 2020. American Savings Bank, a subsidiary of HEI, will report its results on July 30, 2020. A webcast and teleconference will be held on August 6 at 10:15 a.m. Hawaii time to discuss consolidated earnings and provide guidance for 2020. HE supplies power to 95% of Hawaii's population and offers banking services through American. Investors are encouraged to monitor the company's website for further updates and disclosures.