PR Newswire
RENO, Nev. , Nov. 8, 2022 /PRNewswire/ -- AMERCO (Nasdaq: UHAL), the parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, announced that "when-issued" trading of its new series of Series N Non-Voting Common Stock will begin tomorrow, November 9, 2022 .
On October 24, 2022 , the Company announced various actions effectuated by an Independent Special Committee of its Board of Directors including the creation of the new series of Series N Non-Voting Common Stock, the issuance of shares through a stock dividend on a 9-for-1 basis to all existing holders of the Company's Voting Common Stock, and a corporate name change to U-Haul Holding Company by the end of calendar year 2022.
The shares of Non-Voting Common Stock (Nasdaq: UHALB) will be distributed after the close of trading on, or about, November 9, 2022 , to stockholders of record of Voting Common Stock (Nasdaq: UHAL) at the close of business on November 3, 2022 . The Company anticipates trading of the 176,470,092 shares of Non-Voting Common Stock to begin on November 10, 2022 .
Subsequent to the actions taken by the Independent Special Committee, the Board of Directors announced a regular dividend policy for the new class of shares of $0.04 per share per quarter.
About AMERCOAMERCO is the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company. U-Haul is in the shared use business and was founded on the fundamental philosophy that the division of use and specialization of ownership is good for both U-Haul customers and the environment.
AMERCO will change its name to U-Haul Holding Company by the end of calendar year 2022.
About U-HaulFounded in 1945, U-Haul is the No. 1 choice of do-it-yourself movers, with a network of more than 23,000 locations across all 50 states and 10 Canadian provinces. U-Haul Truck Share 24/7 offers secure access to U-Haul trucks every hour of every day through the customer dispatch option on their smartphones and our proprietary Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to approximately 186,000 trucks, 128,000 trailers and 46,000 towing devices. U-Haul is the third largest self-storage operator in North America and offers 895,000 rentable storage units and 76.6 million square feet of self-storage space at owned and managed facilities. U-Haul is the largest retailer of propane in the U.S., and continues to be the largest installer of permanent trailer hitches in the automotive aftermarket industry. U-Haul has been recognized repeatedly as a leading "Best for Vets" employer and was recently named one of the 15 Healthiest Workplaces in America.
SOURCE AMERCO