Drax Group plc ( (GB:DRX) ) just unveiled an update.
Drax Group plc has announced the commencement of the third tranche of its share buyback program, with a maximum consideration of £75 million, following the completion of the second tranche. This initiative is part of a larger £300 million buyback program aimed at reducing the company’s share capital, with shares to be held in treasury pending cancellation or re-issue. The company has engaged RBC Europe Limited to conduct the buyback under specific regulatory parameters, and further announcements will follow as the program progresses.
More about Drax Group plc
Drax Group plc operates in the energy sector, primarily focusing on renewable energy generation and biomass production. The company is known for its efforts in transitioning from coal to sustainable energy sources, aiming to support the UK’s energy needs while reducing carbon emissions.
YTD Price Performance: -1.00%
Average Trading Volume: 1,243,241
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: £2.34B
See more data about DRX stock on TipRanks’ Stock Analysis page.