StockMarketWire.com - Energy company Drax Power raised its dividend and said it expected adjusted core earnings to meet market consensus after swinging to a loss in the first half of the year.

For the six months ended 30 June, the company reported a pre-tax loss of £60.7m, compared with a profit of £3.5m on-year and adjusted earnings before interest, tax, appreciation and amortization was up 30% to £179m.

The interim dividend was 6.8 pence per share, up from 6.4p on-year.

The dividend for the full year was expected to be up 7.5% to 17.1p.

Looking ahead, the company said it expected the full-year adjusted earnings (EBITDA), inclusive of c.£60m estimated impact of Covid-19, would be in line with market consensus.

At 8:26am: [LON:DRX] Drax Group PLC share price was -4.6p at 266.8p



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