---
schema_version: "secwatch.filing_event.v1"
accession: "0000354707-23-000078"
form_type: "8-K"
ticker: "HE"
cik: "0000354707"
company_name: "HAWAIIAN ELECTRIC INDUSTRIES INC"
filed_at: "2023-08-24T23:59:59+00:00"
generated_at: "2026-06-11T04:24:21.413431+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# HEI suspends quarterly dividend, draws $370M from credit lines amid Maui wildfire recovery

## Summary
- HEI drew $170M and Hawaiian Electric drew $200M under revolving unsecured credit facilities; proceeds in short-term investments.
- HEI Board suspends quarterly cash dividend on common stock beginning Q3 2023; prior $0.36/share dividend payable Sep 8, 2023 unaffected.
- Independent directors Dahl, Kennedy, and Otani move exclusively to American Savings Bank board as of Aug 22, 2023.
- 95% of customers in affected Maui areas expected to have power restored by end of week; company cites extraordinary climatological event on Aug 8, 2023.
- American Savings Bank maintains strong liquidity: $3.1B secured borrowing capacity, 79% deposits FDIC-insured, no risk to customer deposits from fire claims.

## SEC filing metadata
- accession: 0000354707-23-000078
- form_type: 8-K
- ticker: HE
- cik: 0000354707
- company_name: HAWAIIAN ELECTRIC INDUSTRIES INC
- filed_at: 2023-08-24T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/354707/000035470723000078/0000354707-23-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/46207/000035470723000078/he-20230821.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000354707-23-000078
- JSON: https://secwatch.observer/filing/0000354707-23-000078.json
- Plain text: https://secwatch.observer/filing/0000354707-23-000078.txt

## Key facts
- Debt Financings
  HAWAIIAN ELECTRIC INDUSTRIES INC incurred revolving credit of $200 million with not specified at not specified maturing not specified.
  - Instrument: revolving credit
  - Principal: $200 million
  - Counterparty: not specified
  - Rate: not specified
  - Maturity: not specified
  - Event: incurrence
  source text: Yesterday, HEI drew $170 million and Hawaiian Electric drew $200 million under their existing revolving unsecured credit facilities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/354707/000035470723000078/0000354707-23-000078-index.htm
- Debt Financings
  HAWAIIAN ELECTRIC INDUSTRIES INC incurred revolving credit of $170 million with not specified at not specified maturing not specified.
  - Instrument: revolving credit
  - Principal: $170 million
  - Counterparty: not specified
  - Rate: not specified
  - Maturity: not specified
  - Event: incurrence
  source text: Yesterday, HEI drew $170 million and Hawaiian Electric drew $200 million under their existing revolving unsecured credit facilities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/354707/000035470723000078/0000354707-23-000078-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.