In a move to help solidify Armstrong’s emergence from bankruptcy last year, the flooring maker’s former parent Armstrong Holdings Inc. said it would dissolve and return all assets, about $27 million in cash, to shareholders. As outlined in Armstrong’s final plan of reorganization approved last year, Armstrong Holdings ceased its ownership after approval of the plan and was expected to dissolve and distribute its remaining assets to shareholders. Armstrong noted that with 40.5 million shares outstanding, shareholders would likely receive about 66 cents per share.

Armstrong sought bankruptcy protection more than six years ago as a result of litigation stemming from asbestos formerly used in the flooring. As part of its reorganization plan, Armstrong said it would establish a trust fund for all current and future asbestos claimants, valued at approximately $1.8 billion.

Since ending its ownership, Armstrong Holdings has no operations or employees. As detailed in the reorganization plan, Armstrong said it will pay the dissolution expenses for the defunct company.

Armstrong said that shareholders can vote on the plan by mail, online or at a meeting scheduled for 11 a.m. July 18 at Reed Smith LLP, 435 Sixth Ave., in Pittsburgh.