The Qube Holdings Ltd (ASX: QUB) share price is in focus today after the company announced the Supreme Court has approved the scheme of arrangement for Rubik Australia to acquire all Qube shares, and the board declared a fully franked special dividend of 34.65 cents per share.
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What did Qube report?
- The Supreme Court of NSW approved Rubik Australia's acquisition of 100% of Qube shares.
- Qube declared a fully franked special dividend of $0.3465 per ordinary share.
- Trading in Qube shares will be suspended at close today, with scheme implementation scheduled for 14 August 2026.
- Scheme consideration for shareholders is $5.20 cash per share, less the interim and special dividends.
- Key scheme dates: Special Dividend Record Date is 14 July, payment on 23 July, Scheme Record Date is 24 July, Implementation Date is 14 August 2026.
What else do investors need to know?
The court's approval means the scheme is now legally effective and Qube has lodged the orders with ASIC. Shareholders (other than UniSuper, which will receive shares in Rubik Australia Holdings) set to receive cash for their Qube shares need to be on the register at 7:00 pm, 24 July 2026.
The total cash payment per Qube share from Rubik Australia will be reduced by the sum of both the $0.0535 interim dividend declared in February and the $0.3465 special dividend. The special dividend record date is 14 July 2026 and payment will be made on 23 July 2026.
What's next for Qube?
Trading in Qube shares on the ASX will be suspended after today's close. The scheme implementation remains on track for 14 August 2026, when eligible shareholders can expect payment. Any changes to the timetable will be communicated through the ASX.
This acquisition marks a significant turning point for Qube, with the board expressing confidence shareholders are being fairly compensated. Investors should keep an eye out for further updates on the transition process.
Qube share price snapshot
Over the past 12 months, Qube shares have risen 21%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 1% over the same period.
