Drax Group plc (GB:DRX) has released an update.
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Drax Group plc has repurchased 350,000 of its ordinary shares as part of its ongoing share buyback programme, paying a weighted average price of 650.42 pence per share. This move is part of a larger effort that has seen the company purchase over 13.8 million shares since August 2024, aiming to enhance shareholder value by reducing the number of shares outstanding. Investors may find this strategic buyback appealing as it often signals management’s confidence in the company’s future prospects.
For further insights into GB:DRX stock, check out TipRanks’ Stock Analysis page.
