HONOLULU -- The board of directors of Hawaiian Electric Industries, Inc. (NYSE - HE) declared a regular quarterly cash dividend of 62 cents per share today, payable June 10 to stockholders of record at the close of business on May 12. The dividend is equivalent to an annual rate of $2.48 per share.

“We intend to maintain our dividend at the current level for the foreseeable future,” said Robert F. Clarke, HEI chairman, president and chief executive officer.

Dividends have been paid continuously since 1901. At the indicated annual dividend rate and the closing share price of $40.86 on April 21, HEI's yield is 6.1%.

HEI is the largest Hawaii-based company, providing electric utility services to approximately 95% of Hawaii's residents and a wide array of banking services to consumers and businesses through the state's third largest bank.

Contact:
Suzy P. Hollinger
Manager, Investor Relations
(808) 543-7385 Telephone
E-mail: shollinger@hei.com