Short Interest in Drax Group plc (OTCMKTS:DRXGY) Decreases By 14.3%

Drax Group plc (OTCMKTS:DRXGY) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 600 shares, a decrease 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

OTCMKTS:DRXGY traded up $0.36 during mid-day trading on Friday, hitting $13.60. 1,233 shares of the company’s stock traded hands, compared to its average volume of 1,578. The firm has a 50 day moving average of $11.18 and a two-hundred day moving average of $11.16. Drax Group has a 12 month low of $9.74 and a 12 month high of $15.28.

Drax Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, April 19th will be given a $0.3105 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This is an increase from Drax Group’s previous dividend of $0.16. Drax Group’s dividend payout ratio (DPR) is currently -53.33%.

About Drax Group

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.