When-Issued Trading of New Series of AMERCO Common Stock to Begin on November 9
November 8, 2022 Download
Reno, Nev. (Nov. 8, 2022) – 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.