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

Posted by Adam Dyson on Apr 17th, 2024

Drax Group plc (LON:DRX – Get Free Report) announced 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 of this dividend is Thursday, April 18th. This is a boost from Drax Group’s previous dividend of $9.20. The official announcement can be seen at this link.

Drax Group Stock Performance

LON:DRX opened at GBX 497 ($6.19) on Wednesday. The stock’s 50-day moving average is GBX 469.43 and its 200-day moving average is GBX 462.96. 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 stock has a market cap of £1.92 billion, a P/E ratio of 357.84, a price-to-earnings-growth ratio of 0.10 and a beta of 1.14. The company has a current ratio of 1.12, a quick ratio of 0.32 and a debt-to-equity ratio of 78.72.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on DRX

Insiders Place Their Bets

In other news, insider Andy Skelton sold 15,869 shares of the company’s 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). Company insiders own 0.59% of the company’s stock.

Drax Group Company Profile

(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.