Drax Group cuts FY dividend by 32%

British electrical power generation company Drax will cut its dividend for 2014 by 32%.

Drax will pay a final dividend of 7.2 pence compared to 8.9 pence last year.

For 2014 the total dividend will be 11.9 pence compared to 17.6 pence a year earlier. The indicated dividend yield for the company is 3.3%.

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