Drewry Stockholders to Share $8.3 Million

Drewry Photocolor in Burbank said it plans to distribute $8.3 million, or $14 a share, to its stockholders next month as part of its previously disclosed liquidation.

Drewry said an additional $2.4 million will be put into a trust before the end of the year to pay any other debts or taxes. The company said the trust may ultimately distribute some of that money to shareholders.

Liquidation of the 42-year-old photo-processing company was approved by stockholders in May after Drewry sold its main photo-processing lab in Burbank to Osco Drug for about $5.7 million. In July, the company sold its other three labs in Washington state, Colorado and Northern California for about $3.4 million.

The company said the $8.3 million is payable Oct. 10 to shareholders of record on Sept. 30.