Hawaiian Electric shares are trading lower after Maui County filed a lawsuit against the company alleging a role in the Lahaina wildfires. The company also suspended its divided.
Portfolio Pulse from Benzinga Newsdesk
Hawaiian Electric (HE) shares are trading lower after Maui County filed a lawsuit against the company for its alleged role in the Lahaina wildfires. The company has also suspended its dividend.
August 25, 2023 | 1:49 pm
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Hawaiian Electric's stock price is falling due to a lawsuit filed by Maui County and the suspension of its dividend.
The lawsuit filed by Maui County against Hawaiian Electric could potentially lead to significant financial liabilities for the company. Additionally, the suspension of the dividend could make the stock less attractive to income-focused investors, leading to a sell-off.
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