NEW YORK ( TheStreet) -- The ex-dividend date for Hawaiian Electric Industries Inc (NYSE: HE) is tomorrow, August 11, 2011. Owners of shares as of market close today will be eligible for a dividend of 31 cents per share. At a price of $21.57 as of 10:12 a.m. ET, the dividend yield is 5.9%.

The average volume for Hawaiian Electric has been 408,300 shares per day over the past 30 days. Hawaiian Electric has a market cap of $2 billion and is part of the utilities sector and utilities industry. Shares are down 3.7% 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 17.8, above the average utilities industry P/E ratio of 17.3 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Hawaiian Electric Ratings Report.

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