I just saw this at Interactive Brokers:
LUB.ESC@VALUE (Name: ESC LUBYS INC DELAWARE <) is the subject of an announced merger, effective 20250121.
Yet when I search around for details, I can only find info about a dividend of $0.44 to be paid on the 21st (LUB Liquidating Trust Declaration of Distribution of $0.44 Per Unit). The linked press release, dated the 13th, says they are still actively seeking buyers for its remaining assets.
This feels a bit like an auto-feed populating based on some naming convention that doesn’t hold in this circumstance.
Jim
Right you are, Jim. It came through on the statement as:
LUB.ESC(549ESC028) Cash Dividend USD 0.44 per Share (InterimLiquidation)
A dividend and (interim) liquidation!
Stay warm, friends!
Luby’s is no Bagger Dave’s; that’s for sure.
Wow, Bagger Dave’s was a real classic. You could even do it in multiple accounts and still get the buyout, as I did.
Yeah, I had all my accounts involved, also family accounts, etc. A small thing but a sure thing!
Same! Fun times…thanks for bringing that one to our attention.
True, but it hasn’t been a bad play - though it has been drawn out. Here’s my purchase price and dividends to date:
| Date | Action | Amount |
|---|---|---|
| 10/13/2020 | Bought shares | $(2.64) |
| 11/1/2021 | Dividend | $2.00 |
| 3/28/2022 | Dividend | $0.50 |
| 5/24/2022 | Dividend | $0.20 |
| 8/14/2023 | Dividend | $1.00 |
| 9/23/2024 | Dividend | $0.10 |
| 1/21/2025 | Dividend | $0.44 |
| Total | $1.60 |
Looks like another dividend is coming up:
LUB.ESC@VALUE (Name: ESC LUBYS INC DELAWARE <) is the subject of an announced merger, effective 20250826.
Wow, this one has been rolling since 2020, so we’re basically five years deep in this already. Not doing too badly on it. Lemme know how much it is.
Thanks, Matt!
I’m still looking for another split-off in 2025 (like the Cummins-Atmus one last year). We’re usually good for one of those a year.
Jim
The S&P 500 is up ~ 85% since 10/13/20, so your 2.40 would be worth 4.89 today. That’s 2.49 to the good.
Another $0.25 paid yesterday.