Key Developments: Drax Group PLC (DRX.L)

DRX.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Drax Group Plc sues UK government over u-turn on biomass conversion support
Tuesday, 22 Apr 2014 09:21pm EDT 

Drax Group Plc:Commences legal proceedings against government decision not to support conversion of one of its coal units under a new subsidy scheme.Government had shortlisted conversion unit for subsidy support in Dec.Conversion of a third unit at Drax' power plant was granted support under the government's contracts-for-difference mechanism.  Full Article

Drax Group Plc recommends final dividend for FY 2013
Monday, 17 Feb 2014 07:00pm EST 

Drax Group Plc:Recommends payment of final dividend for year ended Dec. 31, 2013.Dividend of 8.9 pence per share.Dividend payable on or before May 16.Shares will be marked ex-dividend on April 23.  Full Article

Drax Group Plc Announces Interim Dividend
Tuesday, 30 Jul 2013 02:00am EDT 

Drax Group PLC announced that the Board resolved to pay an interim dividend for the six months ended June 30, 2013 of GBP0.087 per share (GBP35 million), representing 50% of underlying earnings for the period. The interim dividend will be paid on or before October 11, 2013 and shares will be marked ex-interim dividend on September 25, 2013.  Full Article

Drax Group Plc Agrees GBP 75 Million Amortizing Loan Facility
Wednesday, 24 Apr 2013 02:00am EDT 

Drax Group Plc announced that it has agreed a GBPP 75 million amortizing loan facility maturing in June 2018 with Friends Life, underpinned by a guarantee from HM Treasury issued under the Infrastructure UK Guarantee Scheme. As anticipated, this loan facility replaces GBP 50 million of the GBP 100 million amortizing loan facility agreed with the UK Green Investment Bank, which was signed in December 2012.  Full Article

Drax Group Plc Recommends Final Dividend
Tuesday, 19 Feb 2013 02:00am EST 

Drax Group Plc announced that at the forthcoming AGM the Board will recommend to shareholders that a resolution is passed to approve payment of a final dividend for the year ended December 31, 2012 of 10.9 pence per share (GBP44 million), payable on or before May 17, 2013. Shares will be marked ex-dividend on April 24, 2013.  Full Article

UPDATE 2-Drax sues Britain over U-turn on converting coal unit

* Dong Energy biggest winner of subsidy contracts (Adds further Drax reaction, Dong Energy contracts, lobby group comment, background)

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