So what's your point? It's already well known HECO rates are basically the highest in the nation. Given this fact, don't you agree they should be doing everything to maintain or even increase the dividend? Only the fact that the management is so screwed up has brought about the question about the dividend. In spite of their incompetance the Hawaii PUC and Consumer Advocate WILL grant the increases so I don't think the dividend cut is no longer an issue to worry about.
NO, I don't agree that "everything should be done to maintain or increase the dividend." Are you kidding? The dividend is PART of the problem. A wise management would CUT or better yet ELIMINATE the dividend until they can turn this thing around. One more time, additional stock is being issues JUST TO PAY 50% OF THE CURRENT DIVIDEND! That is ludicrous from an fiscal standpoint. Coninuing to DILUTE what earnings are left is not the answer. The Hawaii PUC DID NOT grant the full increase. You better believe that the dividend cut is STILL an issue. HE will may have bond covenants kick in and that could force a cut or elimination. This company MUST do what is fiscally prudent and there is NO indication they are doing it.