NEW YORK ( TheStreet) -- The ex-dividend date for Hawaiian Electric Industries (NYSE: HE) is tomorrow, February 17, 2011. Owners of shares as of market close today will be eligible for a dividend of 31 cents per share. At a price of $24.85 as of 9:31 a.m. ET, the dividend yield is 5%. The average volume for Hawaiian Electric has been 536,000 shares per day over the past 30 days. Hawaiian Electric has a market cap of $2.3 billion and is part of the utilities sector and utilities industry. Shares are up 8.8% year to date as of the close of trading on Tuesday. Hawaiian Electric Industries, Inc., through its subsidiaries, primarily engages in electric utility and banking businesses primarily in the state of Hawaii. The company has a P/E ratio of 20.5, below the average utilities industry P/E ratio of 22.5 and below the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Hawaiian Electric as buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Hawaiian Electric Ratings Report. See our dividend calendar or top-yielding stocks list.