Hawaiian Electric Industries Inc. (HE) will raise its quarterly dividend by 2.9 percent to 35 cents per share in 2022. This follows a dividend hike of 3.0 percent to 34 cents per share in 202 and marks the 4th consecutive year of dividend increases.

The next dividend is payable March 10, 2022, to shareholders of record at the close of business on February 24, 2022 (ex-dividend date of February 23, 2022). The dividend is equivalent to an annual rate of $1.40 per share. Dividends have been paid on an uninterrupted basis since 1901. At the indicated annual dividend rate and based on the closing share price on February 11, 2022 of $41.29, HEI's dividend yield is 3.4%.

Hawaiian Electric Industries will now pay shareholders an estimated $153 million in dividend annually. The company kept its dividend steady for more than a decade before the first hike was announced in 2019.

Hawaiian Electric Industries Inc. supplies power to approximately 95% of Hawaii's population through its electric utility, Hawaiian Electric; provides a wide array of banking and other financial services to consumers and businesses through American, one of Hawaii's largest financial institutions; and helps advance Hawaii's clean energy and sustainability goals through investments by its non-regulated subsidiary, Pacific Current, LLC.