Drax Group plc (OTCMKTS:DRXGY) Sees Large Drop in Short Interest

Drax Group plc (OTCMKTS:DRXGY) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 600 shares, a drop of 14.3% from the March 15th total of 700 shares. Based on an average daily volume of 100 shares, the days-to-cover ratio is presently 6.0 days.

Drax Group Price Performance

Shares of OTCMKTS:DRXGY opened at $13.46 on Tuesday. Drax Group has a 1-year low of $9.74 and a 1-year high of $15.28. The business’s 50 day moving average is $11.22 and its 200-day moving average is $11.20.

Drax Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.3105 per share. The ex-dividend date is Thursday, April 18th. This is a positive change from Drax Group’s previous dividend of $0.16. Drax Group’s dividend payout ratio (DPR) is presently -53.33%.

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.