NEW YORK ( TheStreet) -- The ex-dividend date for Hawaiian Electric Industries (NYSE: HE) is tomorrow, May 18, 2011. Owners of shares as of market close today will be eligible for a dividend of 31 cents per share. At a price of $25.85 as of 9:32 a.m. ET, the dividend yield is 4.8%.

The average volume for Hawaiian Electric has been 431,700 shares per day over the past 30 days. Hawaiian Electric has a market cap of $2.5 billion and is part of the utilities sector and utilities industry. Shares are up 14.2% year to date as of the close of trading on Monday.

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 21.2, below the average utilities industry P/E ratio of 21.3 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Hawaiian Electric as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Hawaiian Electric Ratings Report.

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