On 28 July 2021, the Drax PLC Board resolved to pay an interim dividend of 7.5 pence per share (£30 million), representing 40% of the expected full year dividend in line with their dividend policy. The interim dividend will be paid on 8 October 2021 and the record date for entitlement to the dividend will be on 27 August 2021.
Other financial highlights include:
Adjusted EBITDA from continuing and discontinued operations up £7 million to £186 million (H1 2020: £179 million)
Acquisition of Pinnacle Renewable Energy Inc. (Pinnacle) for cash consideration of C$385 million (£222 million) (enterprise value of C$796 million) and sale of gas generation assets for £186 million
Strong liquidity and balance sheet
- £666 million of cash and committed facilities at 30 June 2021
- Refinancing of Canadian facilities (July 2021) with lower cost ESG facility following Pinnacle acquisition
