Drax Group plc (LON:DRX) Raises Dividend to GBX 15.60 Per Share

Drax Group plc (LON:DRX) declared a dividend on Thursday, February 27th, DividendData.Co.Uk reports. Investors of record on Thursday, April 24th will be given a dividend of GBX 15.60 ($0.21) per share on Friday, May 16th. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, April 24th. This is a 50.0% increase from Drax Group’s previous dividend of $10.40. The official announcement can be accessed at this link.

Drax Group Trading Up 1.0 %

LON:DRX opened at GBX 583 ($7.80) on Tuesday. The company has a market cap of £2.14 billion, a P/E ratio of 3.46, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. Drax Group has a twelve month low of GBX 481.40 ($6.44) and a twelve month high of GBX 692 ($9.26). The business has a 50 day moving average price of GBX 587.41 and a two-hundred day moving average price of GBX 621.57. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11.

Drax Group (LON:DRX) last issued its quarterly earnings results on Thursday, February 27th. The company reported GBX 128.40 ($1.72) earnings per share (EPS) for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. As a group, analysts expect that Drax Group will post 97.4732006 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Will Gardiner sold 114,917 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of GBX 574 ($7.68), for a total value of £659,623.58 ($882,675.74). Company insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

DRX has been the topic of several recent analyst reports. Citigroup reaffirmed a “sell” rating and set a GBX 529 ($7.08) price target on shares of Drax Group in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upped their target price on shares of Drax Group from GBX 850 ($11.37) to GBX 900 ($12.04) and gave the company an “overweight” rating in a report on Tuesday, February 11th.

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.