RENO,
Nev., Nov. 15, 2022 /PRNewswire/ -- AMERCO
(Nasdaq: UHAL, UHALB), parent of U-Haul International, Inc., Oxford
Life Insurance Company, Repwest Insurance Company and Amerco Real
Estate Company, announced it will transfer the listing of both
series of the Company's common stock to the New York Stock Exchange
("NYSE") from The Nasdaq Global Select Market ("Nasdaq") effective
December 19, 2022. On that day,
trading of both series of stock will begin on NYSE, and AMERCO will
officially change its name to U-Haul Holding Company. An
Independent Special Committee of the Board of Directors approved
these actions to increase the marketability of the stock.
"As an industry leader, the U-Haul name is synonymous in
North America with do-it-yourself
moving and self-storage," stated Jim
Grogan, chair of the Independent Special Committee. "As we
join many of our industry peers on the NYSE, we expect the move to
increase the visibility and marketability we set out to achieve as
a committee."
The Company's Voting-Common Stock "UHAL" and Non-Voting Common
Stock "UHALB" are expected to continue trading on Nasdaq until
December 16, 2022.
"Changing the name of our parent company to the brand the
public associates with our core business broadens awareness of the
Company with the investing public," stated Joe Shoen, chairman of AMERCO. "We intend for
our move to the NYSE to help with this effort."
The Company's Voting Common Stock has traded under ticker symbol
"UHAL" since 1994. The Company's Non-Voting Common Stock was
created in October 2022 by the
Independent Special Committee and began trading November 10, 2022 under ticker symbol "UHALB."
Both series of stock will trade on the NYSE as "UHAL" and "UHAL.B",
respectively.
The Board of Directors recently announced a regular dividend
policy for the Non-Voting Common Stock "UHALB" of $0.04 per share, per quarter. The Voting Common
Stock "UHAL" does not currently have a regular dividend policy
associated with it.
"We're thrilled to welcome AMERCO, soon-to-be U-Haul Holding
Company, to the New York Stock Exchange," said John Tuttle, vice chair, NYSE Group. "As a
pioneer in do-it-yourself moving and self-storage for more than 75
years, U-Haul will feel at home among our NYSE community of icons
and disruptors."
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.
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SOURCE AMERCO
