Drax Group plc ( (GB:DRX) ) has issued an update.
Drax Group plc has executed a share buyback program, purchasing 395,253 of its ordinary shares at a weighted average price of 561.77 pence per share. This transaction is part of a broader initiative announced in August 2024, aimed at optimizing the company’s capital structure and enhancing shareholder value. The buyback reduces the number of shares in circulation, potentially increasing the value of remaining shares and reflecting the company’s confidence in its financial health and future prospects.
More about Drax Group plc
Drax Group plc operates in the energy sector, focusing on renewable energy solutions and biomass power generation. The company is committed to reducing carbon emissions and transitioning towards sustainable energy sources.
YTD Price Performance: -11.96%
Average Trading Volume: 1,456,174
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £2.07B
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