Luby's, Inc. to Issue an Initial $2.00 Per Share Cash Liquidating Distribution

HOUSTON, Oct. 13, 2021 /PRNewswire/ -- Luby's, Inc. (NYSE: LUB) ("Luby's"), which is in the process of monetizing its assets for the benefit of its shareholders, announced today that the Company's Board of Directors has declared a cash liquidating distribution of $2.00 per share to be paid on November 1, 2021 to shareholders of record as of October 25, 2021.  The liquidating distribution is being paid from the net proceeds from recent property sales.

Investors should note that the ex-dividend date is set by the New York Stock Exchange ("NYSE").  Under the rules of the NYSE, when a distribution is declared in a per share amount that exceeds 25% of a company's stock price, the date on which that company's shares will begin to trade without the dividend, or ex-dividend, is the first business day following the payment date.  Accordingly, the NYSE has informed the Company that it has set an ex-dividend date for the cash liquidating distribution of November 2, 2021.  Consequently, if a shareholder as of the record date sells shares at any time prior to the ex-dividend date of November 2, 2021, they will not receive the cash liquidating distribution with respect to the shares sold.