In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record a decent gain. At the time of writing, the benchmark index is up 0.4% to 8,445.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up over 8% to $1.39. This may have been driven by news that the UK government is planning to spend GBP2 billion (A$4.18 billion) on drone technology to boost its military capabilities. It is just one of a number of governments that plan to invest heavily in the technology. This bodes well for DroneShield's sales pipeline.
Judo Capital Holdings Ltd (ASX: JDO)
The Judo Capital share price is up 4% to $1.43. Investors have been buying this small business lender's shares following the release of its investor day update. At the event, the company provided an update on its guidance for FY 2025. Judo Capital's CEO, Chris Bayliss, said: "In addition to the strategy update, Judo confirmed it remains on track to achieve its FY25 guidance, as provided in its trading update on 1 May 2025."
Pepper Money Ltd (ASX: PPM)
The Pepper Money share price is up 10% to $1.82. This follows news that the non-bank lender is planning to reward its shareholders with a special dividend worth approximately $55.5 million in total. According to the release, the Pepper Money board has determined to pay a fully franked special dividend of 12.5 cents per share. It notes that this is part of its ongoing capital management strategy and reflects its strong unrestricted cash position. Pepper Money's shares will go ex-dividend for this on 10 June. After which, the company plans to pay it to shareholders next month on 16 July.
Strickland Metals Ltd (ASX: STK)
The Strickland Metals share price is up 7% to 15 cents. This morning, this gold and base metal developer released significant new assay results from ongoing diamond drilling at the Gradina Prospect. It is part of its 100%-owned ~7.4Moz AuEq Rogozna Gold and Base Metals Project in Serbia. Strickland's Managing Director, Paul L'Herpiniere, commented: "The results from hole ZRSD25182 are exceptional, revealing some of the highest gold grades seen at the Gradina system to date and over substantial widths. They further support our belief that Gradina will make a considerable contribution of high-grade ounces to the Rogozna resource inventory by late-2025."
