UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
December 7, 2022
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Date of Report (Date of earliest event reported) |
AMERCO
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(Exact name of registrant as specified in its charter) |
Nevada 001-11255 88-0106815
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
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(I.R.S. Employer Identification No.) |
5555 Kietzke Lane , Ste. 100
Reno , NV 89511
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(Address of Principal Executive Offices) |
775 668-6300
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(Registrant’s telephone number, including area code) |
N/A
_____________________________________________________________________________
(Former Name, Former Address, and Former Fiscal Year, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading Symbol |
Name of each exchange on which registered |
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Common Stock, $0.25 par value |
UHAL |
NASDAQ Global Select Market |
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Common Stock, $0.001 par value |
UHALB |
NASDAQ Global Select Market |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ |
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Items
On October 25, 2022, AMERCO (the “Company”) announced that its Board of Directors (the “Board”) had adopted a dividend policy under which the Company intends to pay quarterly cash dividends on its Series N Non-Voting Common Stock, (the “Non-Voting Common Stock”), beginning in the third quarter of fiscal 2023, at a rate of $0.04 per share per quarter.
On December 8, 2022, Company announced that its Board declared a cash dividend on its Non-Voting Common Stock of $0.04 per share payable to all shareholders of record of the Company’s Non-Voting Common Stock as of close of business on December 19, 2022. The payment date for the dividend will be December 30, 2022.
This dividend policy may be reviewed, modified or terminated from time to time by the Board.
The Company’s press release regarding the special dividend is included as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
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Exhibit No. |
Description |
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99.1 |
Press release dated December 8, 2022. |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL documents) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 8, 2022
AMERCO
/s/ Jason A. Berg
Jason A. Berg
Chief Financial Officer
Sebastien Reyes
Director of Investor Relations AMERCO
(602) 263-6601
Sebastien_Reyes@uhaul.com
AMERCO Announces Quarterly Cash Dividend
RENO, Nev. (December 8, 2022)--AMERCO (Nasdaq: UHAL, UHALB), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, on December 7, 2022 declared a quarterly cash dividend of $0.04 per share on its Series N Non-Voting Common Stock. The dividend will be payable December 30, 2022 to holders of record on December 19, 2022.
This will be the first dividend issued under the Company’s dividend policy announced on October 25, 2022, which stated that the Company intends to pay quarterly cash dividends on its Series N Non-Voting Common Stock beginning in the third quarter of fiscal 2023.
The Company’s Voting-Common Stock “UHAL” and Non-Voting Common Stock “UHALB” will trade on Nasdaq until December 16, 2022. On December 19, 2022 both series of stock will trade on the New York Stock Exchange. On that day, AMERCO will officially change its name to U-Haul Holding Company.
About AMERCO
AMERCO 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 on December 19, 2022.
About U-Haul
Founded 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 over 913,000 rentable storage units and 78.1 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.