Australia's Southern Cross hits near one-year high on dividend resumption, TV asset sale

Southern Cross Media

06/05/2025 02:21

** Shares of Southern Cross Media Group SXL.AX rise 5.8% to A$0.735, their highest point since June 5, 2024

** The media firm says it intends to resume dividends with a final dividend for FY25

** Says non-revenue-related costs for continued operations are now expected to be ~A$265 mln for FY

** Separately, co said it will sell its remaining television assets to Seven West Media SWM.AX

** Co to receive overall proceeds of A$3.75 mln in upfront consideration

** Stock posts biggest intraday percentage gain since April 17

** Stock up 22.5% YTD, including moves in current session

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))