Luby’s to issue first liquidating distribution to shareholders

Houston-based Luby’s Inc. (NYSE: LUB) is making its first liquidating distribution to shareholders as it continues to wind down its business.

Shareholders of record as of Oct. 25 will receive a cash distribution of $2 per share on Nov. 1, the company announced Oct. 13. However, if a shareholder sells any shares before Nov. 2, they won’t receive the dividend for those shares, due to New York Stock Exchange rules.

Luby’s is using the net proceeds from recent property sales to make the distributions.…