On 28 July 2020, the Drax Board resolved to pay an interim dividend of 6.8 pence per share (£27.1 million), representing 40% of the expected full year dividend in line with our dividend policy. The interim dividend will be paid on 2 October 2020 and the record date for entitlement to the dividend will be on 21 August 2020.
Other financial highlights:
- Group Adjusted EBITDA up 30% to £179 million (H1 2019: £138 million)
- Includes estimated £44 million impact of Covid-19, principally in Customers SME business
- £34 million of capacity payments (H1 2019: nil) following re-establishment of the Capacity Market
- Strong biomass performance in both Pellet Production and Generation
Strong cash generation and balance sheet
- £694 million of cash and total committed facilities
- Extended £125 million ESG CO2 emission-linked facility to 2025
- DBRS investment grade rating
