LONDON, UK / ACCESSWIRE / November 20, 2017 / Pro-Trader Daily takes a closer look at Hawaiian Electric Industries, Inc. (NYSE: HE) ("Hawaiian Electric") as the Company's stock will begin trading ex-dividend on November 21, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on November 20, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On November 01, 2017, Hawaiian Electric's Board of Directors announced the regular quarterly cash dividend of $0.31 per share, payable December 12, 2017, to shareholders of record at the close of business on November 22, 2017. The dividend would be equivalent to an annual rate of $1.24 per share.

Hawaiian Electric's indicated dividend represents a yield of 3.35%, which is substantially above compared to the average dividend yield of 2.34% for the Utilities sector. Hawaiian Electric has paid dividends continuously since 1901.

Dividend Insights

Hawaiian Electric has a dividend payout ratio of 76.1%, which means that the Company spends approximately $0.76 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts' estimates, Hawaiian Electric is forecasted to report earnings of $1.81 for the next year, which is substantially above the Company's annualized dividend of $1.24 per share.

As of September 30, 2017, Hawaiian Electric's cash and cash equivalents totaled $202.17 million compared to $278.45 million as on December 31, 2016. For the nine months ended September 30, 2017, the Company's net cash provided by operating activities totaled $291.14 million compared to $409.300 million in the year ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for Hawaiian Electric

On November 02, 2017, Hawaiian Electric recorded revenue of $673.19 million for Q3 2017 compared to revenue of $646.06 million for the year ago same period.

Hawaiian Electric reported consolidated net income for common stock of $60.1 million and diluted earnings per share (EPS) of $0.55 for Q3 2017 compared to $127.1 million and EPS of $1.17 for Q3 2016. The Company's core earnings and core EPS for Q3 2016 were $63.3 million and $0.58, respectively, and included $6 million of favorable tax adjustments at the holding company as Hawaiian Electric moved out of a federal net operating loss position, enabling the recognition of tax benefits.

About Hawaiian Electric

Hawaiian Electric supplies power to approximately 95% of Hawaii's population through its electric utilities, Hawaiian Electric, Hawaii Electric Light Company, Inc., and Maui Electric Co., Ltd and provides a wide array of banking and other financial services to consumers and businesses through American Savings Bank, F.S.B., one of Hawaii's largest financial institutions. Hawaiian Electric was founded in 1891 and is headquartered in Honolulu, Hawaii.

Stock Performance

At the closing bell, on Friday, November 17, 2017, Hawaiian Electric Industries' stock marginally climbed 0.57%, ending the trading session at $37.055. A total volume of 555.38 thousand shares have exchanged hands. The Company's stock price surged 12.37% in the last three months, 14.81% in the past six months, and 23.95% in the previous twelve months. Moreover, the stock rallied 12.04% since the start of the year. The stock is trading at a PE ratio of 22.67 and has a dividend yield of 3.35%. The stock currently has a market cap of $4.01 billion.

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