- AMERCO ( NASDAQ: UHAL ), the parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, announced that an Independent Special Committee of its board has approved various actions, including a corporate name change and a 9-for-1 stock dividend of shares of a newly-created series of non-voting common stock of the company.
- Long-term stockholders have encouraged the company to change its name to attract new stockholders who may be unaware that AMERCO is the parent company of one of the most recognized brands in North America.
- The Committee has approved changing the name of the company to U-Haul Holding Company to help alleviate any perceived disconnect by institutional or retail investors alike.
- AMERCO will change its name by the end of calendar year 2022.
- The Committee has also authorized the creation of a new series of common stock, designated as Series N Non-Voting common stock to enhance liquidity and marketability while preserving the company's current voting structure and long-term orientation.
- The Non-Voting common stock will have a par value of $0.001/share.
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Amerco changes name to U-Haul Holding Company