Yeah, well the reality --- regardless of how the conversation started --- is that the Company SHOULD be looking at cutting the dividend. They are essentially borrowing to sustain the dividend, and in the process burdening the rate-payers with such a high pay-out. Equity investors know the risks (or at least they should know the risks) before buying into the stock. The realization of downside business risks (higher production costs, revenue loss to individual solar, etc.) should fall upon them. I have nothing against HE (well, at least I didn't perhaps until I read that they want to discourage individuals from installing solar, but other than that I have nothing against them and I wish them the very best as a necessary public service provider), but there are plenty of equities in the utility space that are not subject to the singular and specific risks associated with an island utility, and if the business fundamentals don't support the higher dividend (5% at today's dividend and stock price) it will ultimately fall on the shareholders --- in other words, good luck getting rate hikes approved as long as the Board feels its required to pay 5% to shareholders, the dividend can be cut first, before rates are hiked further.