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[ FAST FACTS HAWAII ]

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Isle jobless rate edges upward

Hawaii's unemployment rate increased slightly last month, but still was the lowest in the nation for the fifth straight month, according to state figures released yesterday.

The state's seasonally adjusted jobless rate was 3.1 percent, up from 2.9 percent in August, according to figures released by the state Department of Labor and Industrial Relations.

The nation's seasonally adjusted unemployment rate stood at 5.4 percent.

Hawaii's jobless rate in September 2003 was 4.5 percent.

State officials said Hawaii's economy also added 18,800 new jobs from September 2003 to September 2004.

There were 610,650 people employed last month and 19,550 unemployed in the state, for a total seasonally adjusted labor force of 630,200, the department said.

The department also announced the number of workers holding two or more jobs have decreased in the last two years.

Hawaii wins another captive insurer

Japan-based Sanyo Electric Co. is opening a captive insurance company in Hawaii to manage its corporate insurance costs, and recently received its state license.

Sanyo Global Insurance Inc. is the 12th Japan-based captive insurer that has been licensed to do business in Hawaii, joining Nissan Motors, Kinki Nippon Tourist, Citizen Watch and others.

Hawaiian Electric declares dividend

Hawaiian Electric Industries Inc.'s board of directors declared a quarterly cash dividend of 31 cents a share yesterday. It will be paid Dec. 10 to stockholders as of Nov. 10.

The dividend, which is equivalent to an annual rate of $1.24 a share, yields about 4.4 percent.

Acquisitions boost Boyd Gaming

LAS VEGAS » Casino operator Boyd Gaming Corp., which operates daily tour charters to Las Vegas through its Vacations Hawaii subsidiary, said yesterday that third-quarter profits rose sharply as a result of acquisitions earlier in the year.

The Las Vegas-based company said net income rose to $35.5 million, or 41 cents a share, from year-earlier income of $7.7 million, or 12 cents a share.

Analysts had on average expected earnings of 37 cents a share, according to Thomson First Call.

Sales rose 68 percent to $522.5 million from $310.5 million last year.

Excluding gains on asset sales, pre-opening and acquisition expenses and the early retirement of debt, earnings were 38 cents a share, compared with 15 cents a share in the year-ago quarter.