Drax Group plc (DRX) to Issue Dividend of GBX 13.90 on May 17th

Drax Group plc (LON:DRX) announced a dividend on Thursday, February 29th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, April 18th will be paid 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 a boost from Drax Group’s previous dividend of $9.20. The official announcement can be seen at this link.

Drax Group Price Performance

Shares of Drax Group stock opened at GBX 503 ($6.26) on Tuesday. The firm has a market cap of £1.95 billion, a PE ratio of 363.31, a P/E/G ratio of 0.10 and a beta of 1.14. The business has a 50-day moving average price of GBX 468.87 and a 200 day moving average price of GBX 462.57. The company has a quick ratio of 0.32, a current ratio of 1.12 and a debt-to-equity ratio of 78.72. Drax Group has a twelve month low of GBX 395.20 ($4.92) and a twelve month high of GBX 655.40 ($8.16).

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup reaffirmed a “sell” rating and issued a GBX 434 ($5.40) price target on shares of Drax Group in a research note 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 on the stock in a research report on Wednesday, February 21st.

Insider Activity at Drax Group

In other Drax Group news, insider Andy Skelton sold 15,869 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were 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 owned by insiders.

Drax Group Company Profile

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.