Drax Group Plc (DRX) to Issue Dividend of GBX 6.40 on October 11th

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Drax Group Plc (LON:DRX) declared a dividend on Wednesday, July 24th, Upcoming.Co.Uk reports. Investors of record on Thursday, September 19th will be paid a dividend of GBX 6.40 ($0.08) per share on Friday, October 11th. This represents a dividend yield of 2.16%. The ex-dividend date is Thursday, September 19th. The official announcement can be seen at this link.

Shares of LON DRX opened at GBX 302.40 ($3.95) on Tuesday. Drax Group has a 1 year low of GBX 259.80 ($3.39) and a 1 year high of GBX 432.40 ($5.65). The company has a debt-to-equity ratio of 64.30, a current ratio of 1.30 and a quick ratio of 0.55. The company’s 50-day moving average is GBX 283.13 and its 200 day moving average is GBX 318.19. The stock has a market capitalization of $1.20 billion and a P/E ratio of 43.20.

DRX has been the topic of several research analyst reports. Barclays cut shares of Drax Group to an “equal weight” rating in a research report on Wednesday, June 19th. Macquarie initiated coverage on shares of Drax Group in a research report on Monday, June 17th. They set a “neutral” rating and a GBX 280 ($3.66) price target on the stock. Royal Bank of Canada reduced their price target on shares of Drax Group from GBX 460 ($6.01) to GBX 420 ($5.49) and set a “top pick” rating on the stock in a research report on Thursday, July 25th. Credit Suisse Group upgraded shares of Drax Group to a “neutral” rating and reduced their price target for the company from GBX 325 ($4.25) to GBX 295 ($3.85) in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Drax Group from GBX 450 ($5.88) to GBX 400 ($5.23) and set an “overweight” rating on the stock in a research report on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of GBX 347 ($4.53).

In other Drax Group news, insider Andy Skelton acquired 16,250 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were acquired at an average price of GBX 298 ($3.89) per share, with a total value of £48,425 ($63,275.84). Also, insider John Baxter acquired 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average cost of GBX 269 ($3.51) per share, for a total transaction of £18,830 ($24,604.73).

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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