Drax Group to propose a dividend for the 2025 financial year of 29.0 pence per share, an 11.5% increase on 2024, consistent with their policy to pay a dividend which is sustainable and expected to grow. As has been their practice since they implemented the policy in 2017, 40% of the expected full year dividend will be paid for the first six months of 2025, being 11.6 pence per share.
Other financial highlights include:
Strong operational and financial performance across the Group
High levels of renewable generation and system support - 5% of UK power, 11% of UK renewables
Record levels of pellet production - 5% increase vs. H1-24
Strong balance sheet
£726 million of cash and committed facilities, with debt maturities profiled towards 2030
1.1x Net debt to Adj. EBITDA
Return of surplus capital beyond investment requirements, in line with capital allocation policy
£300 million share buyback programme ongoing, c.£272 million complete
Additional £450 million three-year buyback extension to follow current buyback, supported
