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

Drax Group plc (LON:DRX - Get Free Report) announced a dividend on Thursday, February 27th, DividendData.Co.Uk reports. Stockholders 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 viewed at this link.

Drax Group Trading Up 2.7 %

Drax Group stock traded up GBX 15.50 ($0.21) during mid-day trading on Friday, hitting GBX 597.50 ($7.96). The stock had a trading volume of 707,610 shares, compared to its average volume of 2,690,417. The stock has a 50-day simple moving average of GBX 584.14 and a two-hundred day simple moving average of GBX 620.23. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The stock has a market capitalization of £2.19 billion, a PE ratio of 3.54, a P/E/G ratio of 0.10 and a beta of 1.22. Drax Group has a 12 month low of GBX 481.40 ($6.41) and a 12 month high of GBX 692 ($9.21).

Drax Group (LON:DRX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported GBX 128.40 ($1.71) earnings per share for the quarter. Drax Group had a return on equity of 31.63% and a net margin of 9.42%. As a group, sell-side analysts forecast that Drax Group will post 97.4732006 EPS for the current year.

Insider Buying and Selling

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 ($7.64), for a total value of £659,623.58 ($878,327.00). 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on DRX. Citigroup reissued a "sell" rating and issued a GBX 529 ($7.04) price target on shares of Drax Group in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised their price objective on Drax Group from GBX 850 ($11.32) to GBX 900 ($11.98) 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.