Drax Group plc (LON:DRX) to Issue Dividend of GBX 13.90

Posted by Teresa Graham on Apr 17th, 2024

Drax Group plc (LON:DRX – Get Free Report) declared a dividend on Thursday, February 29th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, April 18th will be given a dividend of GBX 13.90 ($0.17) per share on Friday, May 17th. This represents a dividend yield of 3.32%. The ex-dividend date is Thursday, April 18th. This is an increase from Drax Group’s previous dividend of $9.20. The official announcement can be viewed at this link.

Drax Group Stock Up 0.4 %

DRX stock opened at GBX 497 ($6.19) on Wednesday. Drax Group has a 1-year low of GBX 395.20 ($4.92) and a 1-year high of GBX 655.40 ($8.16). The business has a fifty day moving average price of GBX 469.43 and a 200-day moving average price of GBX 462.96. The company has a debt-to-equity ratio of 78.72, a current ratio of 1.12 and a quick ratio of 0.32. The stock has a market capitalization of £1.92 billion, a P/E ratio of 357.84, a P/E/G ratio of 0.10 and a beta of 1.14.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup reiterated a “sell” rating and set a GBX 434 ($5.40) price objective on shares of Drax Group in a research report on Wednesday, April 3rd. Royal Bank of Canada reduced their price objective on Drax Group from GBX 1,200 ($14.94) to GBX 1,100 ($13.69) and set an “outperform” rating for the company in a research report on Wednesday, February 21st.

Read Our Latest Stock Analysis on Drax Group

Insider Buying and Selling at Drax Group

In related news, insider Andy Skelton sold 15,869 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of GBX 489 ($6.09), for a total transaction of £77,599.41 ($96,600.78). 0.59% of the stock is currently owned by corporate insiders.

About Drax Group

(Get Free Report)

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.