Directors Deals 

Drax directors pile in

Drax directors pile in

It’s no secret that utilities can offer refuge to investors during times of crisis, and the Covid-19 pandemic is no exception. Drax (DRX) offers an income stream underpinned by government subsidies for its biomass power generation and growth from the hydro and gas assets it acquired from Scottish Power in 2018. The group has yet to update the market on any financial impact from coronavirus, which means there’s no official word on whether the final 9.5p dividend declared for 2019 remains intact. But it’s worth noting that out of the major listed utilities, only Centrica (CNA) has cut its payout so far, and that’s partly because it’s battling its own set of challenges.

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