Drax Group Plc Plans Dividend of GBX 6.80 (LON:DRX)

Drax Group Plc (LON:DRX) declared a dividend on Wednesday, July 29th, Upcoming.Co.Uk reports. Shareholders of record on Thursday, August 20th will be given a dividend of GBX 6.80 ($0.08) per share on Friday, October 2nd. This represents a yield of 2.47%. The ex-dividend date of this dividend is Thursday, August 20th. The official announcement can be accessed at this link.

Shares of Drax Group stock opened at GBX 275.80 ($3.39) on Thursday. Drax Group has a 52-week low of GBX 2.52 ($0.03) and a 52-week high of GBX 364.60 ($4.49). The stock has a market capitalization of $1.09 billion and a price-to-earnings ratio of 2,758.00. The company has a fifty day moving average of GBX 249.01 and a 200-day moving average of GBX 235.63. The company has a debt-to-equity ratio of 74.48, a quick ratio of 0.73 and a current ratio of 1.28.

In other news, insider Andy Skelton purchased 60,902 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of GBX 272 ($3.35) per share, with a total value of £165,653.44 ($203,856.07). Also, insider Will Gardiner sold 20,798 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of GBX 195 ($2.40), for a total transaction of £40,556.10 ($49,909.06).

A number of brokerages have recently issued reports on DRX. Credit Suisse Group raised shares of Drax Group to an “outperform” rating and cut their price objective for the company from GBX 325 ($4.00) to GBX 305 ($3.75) in a research note on Thursday, May 21st. JPMorgan Chase & Co. cut their price objective on shares of Drax Group from GBX 400 ($4.92) to GBX 360 ($4.43) and set an “overweight” rating for the company in a research note on Thursday, May 14th. Barclays upped their price objective on shares of Drax Group from GBX 375 ($4.61) to GBX 400 ($4.92) and gave the company an “overweight” rating in a research note on Monday, July 6th. Royal Bank of Canada upped their price objective on shares of Drax Group from GBX 330 ($4.06) to GBX 340 ($4.18) and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, HSBC dropped their price target on shares of Drax Group from GBX 375 ($4.61) to GBX 310 ($3.81) and set a “buy” rating for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of GBX 334.17 ($4.11).

About Drax Group

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.

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Dividend History for Drax Group (LON:DRX)

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