Drax Group Plc (DRX) to Issue Dividend of GBX 4.90 on October 6th

Drax Group Plc (LON:DRX) announced a dividend on Wednesday, July 19th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, September 21st will be given a dividend of GBX 4.90 ($0.07) per share on Friday, October 6th. This represents a dividend yield of 1.47%. The ex-dividend date is Thursday, September 21st. This is an increase from Drax Group Plc’s previous dividend of $0.40. The official announcement can be viewed at this link.

Shares of Drax Group Plc (LON:DRX) opened at 316.90 on Wednesday. The stock’s 50 day moving average price is GBX 316.83 and its 200 day moving average price is GBX 327.06. The company’s market capitalization is GBX 1.29 billion. Drax Group Plc has a 1-year low of GBX 273.10 and a 1-year high of GBX 393.20.

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Several analysts have commented on the stock. Deutsche Bank AG reiterated a “hold” rating on shares of Drax Group Plc in a research report on Friday, August 18th. Barclays PLC upped their target price on shares of Drax Group Plc from GBX 410 ($5.53) to GBX 420 ($5.66) and gave the company an “overweight” rating in a research report on Monday, June 12th. J P Morgan Chase & Co dropped their target price on shares of Drax Group Plc from GBX 400 ($5.39) to GBX 390 ($5.26) and set an “overweight” rating for the company in a research report on Monday, July 24th. Citigroup Inc. reiterated a “buy” rating and set a GBX 391 ($5.27) target price on shares of Drax Group Plc in a research report on Tuesday, June 13th. Finally, Macquarie upped their target price on shares of Drax Group Plc from GBX 350 ($4.72) to GBX 370 ($4.99) and gave the company a “neutral” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Drax Group Plc has an average rating of “Buy” and an average price target of GBX 386.07 ($5.21).

In related news, insider David Nussbaum bought 7,500 shares of Drax Group Plc stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average cost of GBX 315 ($4.25) per share, with a total value of £23,625 ($31,852.50).

About Drax Group Plc

Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company’s segments include Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.

Dividend History for Drax Group Plc (LON:DRX)

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