other material
confidence high
sentiment positive
materiality 0.60
AMERCO to change name to U-Haul Holding Company, issue 9-for-1 non-voting stock dividend
U-Haul Holding Co /NV/
- AMERCO to change corporate name to U-Haul Holding Company by end of 2022 to align with its brand.
- Board's Independent Special Committee created Series N Non-Voting Common Stock (UHALB) to enhance liquidity while preserving voting structure.
- Stock dividend of 9 non-voting shares per 1 voting share for holders of record Nov 3, 2022; distribution on Nov 9, 2022; trading begins Nov 10.
- Total of 176,470,092 non-voting shares to be issued; effectively a 10-for-1 split in terms of share count.
- Independent Special Committee formed in April 2022 retained Moelis & Co. and Richard C. Breeden & Co. as advisors.