Drax Group plc ( (GB:DRX) ) has issued an update.
Drax Group plc announced the purchase of 150,000 of its own ordinary shares as part of its ongoing share buyback programme initiated in August 2024. This transaction is part of a broader strategy to manage the company’s capital structure and potentially enhance shareholder value by reducing the number of shares in circulation, thereby increasing earnings per share.
More about Drax Group plc
Drax Group plc operates in the energy sector, primarily focusing on renewable energy generation and biomass power. The company is known for its efforts in transitioning from coal to sustainable energy sources, aiming to reduce carbon emissions and support the UK’s renewable energy goals.
YTD Price Performance: -5.86%
Average Trading Volume: 1,312,646
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £2.22B
Learn more about DRX stock on TipRanks’ Stock Analysis page.