The Drax Group Board has proposed to pay a final dividend in respect of 2021 of £45 million, equivalent to 11.3 pence per share, making the full year 2021 dividend £75 million (18.8 pence per share) (2020: £68 million, 17.1 pence per share). This represents a 10% increase on 2020 and is consistent with their policy to pay a dividend which is sustainable and expected to grow as the strategy delivers stable earnings, strong cash flows and opportunities for growth.
Other financial highlights include:
Adjusted EBITDA £398 million (2020: £412 million)
Strong liquidity and balance sheet - £549 million of cash and committed facilities at 31 December 2021
Expect to be below 2x net debt to Adjusted EBITDA by the end of 2022
