I don't have the time to post the entire dividend history. It has been remarkably stable.During the early 2000's it settled into 35 cents per quarter. Prior to that it was twice that, and it was halved because of a stock split. Thr share price also went from around $40 to around $20. But your total dividend payment, and wealth,remained the same. You had twice as many shares. Just  as I really know my mortgage interest rate, I know the dividend because I was a long time  shareholder. For people who buy, hold, and reinvest their dividends, a fall isn't scary. You got more shares and income. Under normal circumstance the HE share price will respond to demand for the dividend, and that will be determined by other "safe" bond interest rates.  You miss my point. HE stock doesn't behave like a normal stock, not even a utility stock. It's more like a bond price.