Hawaiian Elec Industries Stock Price, News & Analysis

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.

Hawaiian Electric Industries (HE) has appointed Elisia Flores to its board of directors. She is an experienced business leader, currently serving as CEO of L&L Franchise and a director at American Savings Bank since 2018. Flores brings extensive experience in corporate finance and franchising, having previously worked at General Electric. Her addition is expected to enhance HE’s strategic vision and community engagement. Flores was recognized as Business Leader of the Year in 2020 and 2021, underscoring her impact in Hawai'i's business landscape.

Hawaiian Electric, a subsidiary of Hawaiian Electric Industries (NYSE: HE), has announced a bold initiative to reduce carbon emissions from power generation by 70% by 2030, using 2005 levels as a baseline. This ambitious goal aligns with the state's commitment to achieve a 50% reduction in overall emissions by 2030, contributing to the U.S. climate targets set at COP26. Additionally, Hawaiian Electric aims for net zero emissions by 2045. Key strategies include retiring fossil fuel plants, expanding renewable energy sources, and enhancing energy storage capabilities.

Hawaiian Electric Industries (HEI) reported third-quarter 2021 consolidated net income of $63.4 million, with earnings per share (EPS) of $0.58, down from $65.0 million and $0.59 EPS in Q3 2020. Hawaiian Electric Company net income decreased to $50.3 million from $60.1 million, primarily due to lower revenues and higher expenses. American Savings Bank's net income dropped to $19.3 million from $30.3 million in the previous quarter. HEI declared a quarterly dividend of $0.34 per share, yielding 3.3%.

The Board of Directors of Hawaiian Electric Industries (HE) declared a quarterly cash dividend of $0.34 per share, payable on December 10, 2021. The record date for shareholders is November 23, 2021, with an ex-dividend date of November 22, 2021. This dividend represents an annual rate of $1.36 per share, translating to a 3.3% yield based on the closing share price of $41.14 on the declaration date. Dividends have been paid uninterrupted since 1901.

American Savings Bank reported a net income of $19.3 million for Q3 2021, a decline from $30.3 million in Q2 2021 but an increase from $12.2 million in Q3 2020. The bank's net interest income was $60.3 million, slightly down from Q2 due to lower yields. Net interest margin decreased to 2.90%. A negative provision for credit losses of $1.7 million was noted. The total deposits rose by 1.3% to $8.0 billion. However, total loans fell by 1.3% from the previous quarter. The bank maintained a Tier 1 leverage ratio of 8.0%.