Printer Friendly

LUBY'S CAFETERIAS DECLARES DIVIDEND

 SAN ANTONIO, July 12 /PRNewswire/ -- The Board of Directors of Luby's Cafeterias, Inc. (NYSE: LUB) declared a cash dividend on the common stock in the amount of 15 cents per share to shareholders of record on Sept. 10, 1993, payable on Sept. 27, 1993.
 John B. Lahourcade, chairman of the board, said the dividend represents an 11 percent increase over the previous rate. He also stated this would be the 117th consecutive quarterly dividend paid by the company and that the dividend has been increased annually since 1965.
 Mr. Lahourcade also announced today that the Board of Directors authorized the purchase of up to 2,500,000 shares of Luby's common stock in open-market transactions from time to time through fiscal 1994. The purchases would be made when market and business conditions are favorable and the company is not committed to buy all 2,500,000 shares, which would represent approximately nine percent of shares outstanding. He noted that the company purchased approximately 270,000 shares in open-market transactions under the purchase program which expired in 1992.
 He said the purchase program reflects the Board's belief that Luby's stock is undervalued in the marketplace and is a good investment for the company. The shares would be placed in the company's treasury for use in connection with employee benefit plans and for general corporate purposes.
 The San Antonio based company operates 168 Luby's Cafeterias in ten states, and its stock is traded on the New York Stock Exchange (symbol LUB).
 -0- 7/12/93
 /CONTACT: John E. Curtis, Jr., senior vice president and CFO of Luby's Cafeterias, Inc., 210-654-9000/
 (LUB)


CO: Luby's Cafeterias, Inc. ST: Texas IN: LEI SU: DIV

LG-MG -- NY062 -- 0496 07/12/93 14:26 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 12, 1993
Words:288
Previous Article:PARAMOUNT ANNOUNCES PUBLIC OFFERING
Next Article:XEROX BOARD DECLARES DIVIDENDS ON COMMON, PREFERRED STOCK ISSUES
Topics:


Related Articles
LUBY'S CAFETERIAS DECLARES DIVIDEND
LUBY'S DECLARES DIVIDEND
LUBY'S CAFETERIAS DECLARES DIVIDEND
LUBY'S CAFETERIAS DECLARES DIVIDEND
LUBY'S CAFETERIAS DECLARES DIVIDEND
LUBY'S CAFETERIAS DECLARES DIVIDEND
LUBY'S CAFETERIAS DECLARES DIVIDEND
LUBY'S CAFETERIAS ANNOUNCES DIVIDEND
LUBY'S CAFETERIAS, INC. DECLARES DIVIDEND
LUBY'S CAFETERIAS ANNOUNCES DIVIDEND

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters