Hawaiian Electric Industries Inc., commonly known as HE, is a Honolulu-based company that supplies power to the state of Hawaii. Operating through its subsidiaries, HE offers a variety of electric utilities and banking services. The company was founded on October 13, 1891, and has a profound history in augmenting the socioeconomic welfare of local communities in Hawaii.
HE is a public listed company on the New York Stock Exchange under the ticker symbol "HE". It operates through two primary segments: Electric Utility and Bank. The Electric Utility segment involves the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii and Maui, Lanai, and Molokai. Meanwhile, the Bank segment focuses on providing an array of banking services, including deposit, lending, and wealth management services to businesses and consumers in Hawaii through ASB Hawaii, Inc., its bank subsidiary, also known as the American Savings Bank, or ASB.
HE's commitment to renewable energy stands as one of the company's unique business orientations. Hawaiian Electric Industries Inc. has set high standards in renewable energy innovation, taking bold and strategic steps towards achieving a 100% renewable portfolio by 2045. Thanks to this commitment, the company now leads the United States in the integration of renewable energy, with more than 30% of its energy portfolio coming from renewable sources.
The company consistently returns cash to its stockholders in the form of dividends, reflecting strong financial stability and investor confidence. HE maintains a balanced approach to growth and profits, focusing on operational excellence and customer satisfaction.
Moreover, HE's corporate social responsibility extends to various community and environmental sustainability initiatives. The company invests in community service projects across Hawaii, engaging in initiatives that range from promoting educational development to environmental sustainability.
HE has been recognized for its business performance and commitment to its stakeholders. The company's thorough understanding of Hawaii's unique energy needs, coupled with its innovative approaches to clean and renewable energy resources, places Hawaiian Electric Industries Inc. as an indispensable contributor to a cleaner, smarter, and more vibrant Hawaii.
In conclusion, Hawaiian Electric Industries Inc. is more than just a utilities and bank holding company. It is an organization deeply entwined with Hawaii's communities, the environment, and the state's development, making a significant contribution to both its economic structure and sustainable future.