U-Haul Holding Company reports developments tied to its do-it-yourself moving, self-storage and insurance businesses. Company announcements commonly cover U-Haul International's truck, trailer and U-Box container services, storage-facility openings, self-storage pricing programs, disaster-relief storage offers and customer access tools such as U-Haul Truck Share 24/7.
Updates also include quarterly financial results, dividends on Series N Non-Voting Common Stock, fleet and storage-capacity commentary, and items involving subsidiaries such as Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company. The recurring disclosures connect U-Haul's moving and storage network with related propane, trailer-hitch, packing-supply and insurance operations.
U-Haul is providing disaster relief to California residents affected by recent flooding. Ten U-Haul locations in California are offering 30 days of free self-storage and U-Box container usage to those impacted. The initiative comes in response to extensive storm damage that has left many communities with standing water and destroyed infrastructure. U-Haul aims to assist individuals in their recovery efforts by making storage available while supplies last. U-Haul operates over 23,000 locations and is recognized as a leading provider in the self-storage industry.
U-Haul is set to host a grand-opening event for its new retail and indoor self-storage facility in Fort Walton Beach, Florida, on January 11 from 10 a.m. to 12 p.m. The 138,000-square-foot facility includes nearly 800 storage units with advanced security and climate control. The event will feature a free BBQ lunch and tours of the facility. U-Haul acquired the property in 2019 and has since renovated it, resulting in significant sustainability benefits. The company aims to hire at least 20 local employees as part of its commitment to community growth.
The latest U-Haul Growth Index highlights Ocala, Florida, as the top growth city for one-way U-Haul customers in 2022, with a 6% increase in arrivals and only a 1% increase in departures. This marks the third consecutive year a Florida city has held this title, attracting over 53% of truck traffic from arrivals. Four Florida cities, including Palm Bay and North Port, are also in the top 25. The U-Haul index reflects migration trends based on net gains of one-way truck movements, underscoring Florida's appeal amid broader migration patterns.
The U-Haul Growth Index reveals that Texas, Florida, and the Carolinas continued to lead as top destinations for one-way U-Haul truck rentals in 2022. Texas ranked first for the second consecutive year, while Florida secured second place. In contrast, California and Illinois experienced significant outflows, ranking 50th and 49th, respectively. Despite strong demand for U-Haul rentals in these states, overall DIY moves slightly decreased compared to 2021. U-Haul's data, derived from over 2 million transactions, reflects ongoing migration trends, especially towards the Southeast and Southwest regions.
On December 7, 2022, AMERCO (Nasdaq: UHAL, UHALB) announced a quarterly cash dividend of $0.04 per share for its Series N Non-Voting Common Stock. The dividend is payable on December 30, 2022, to shareholders recorded by December 19, 2022. This marks the company's first dividend under the new policy established on October 25, 2022, which aims to issue quarterly cash dividends starting in fiscal 2023. Additionally, AMERCO will transition to the New York Stock Exchange on December 19, 2022, coinciding with its official name change to U-Haul Holding Company.
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AMERCO (Nasdaq: UHAL, UHALB) will transfer its stock listing to the NYSE from Nasdaq, effective December 19, 2022. Along with this transfer, the company will change its name to U-Haul Holding Company. The decision, approved by an Independent Special Committee, aims to enhance stock visibility and marketability.
The Voting Common Stock 'UHAL' and Non-Voting Common Stock 'UHALB' will trade on the NYSE under the same symbols. Additionally, a dividend policy of $0.04 per share for 'UHALB' has been announced, while 'UHAL' currently has no regular dividend.
U-Haul's first employee, U.S. Army veteran William E. "Hap" Carty, will be honored posthumously as the Business Community Grand Marshal in the Phoenix Veterans Day Parade on November 11, 2022. Carty, who passed away in June at 95, had a significant impact on U-Haul's growth, including the establishment of the U-Haul Technical Center in Tempe. The parade will include U-Haul team members commemorating his legacy, and over 45,000 spectators are expected. U-Haul is recognized as a leading employer for veterans and continues to support veteran initiatives.
AMERCO (Nasdaq: UHAL) reported net earnings of $352.0 million ($17.95 per share) for Q2 2023, down from $409.9 million ($20.90 per share) a year prior. For the six-month period, earnings reached $686.0 million ($34.99 per share), a decrease from $755.1 million ($38.51 per share) in 2022. Self-moving equipment rental revenues declined by $17.0 million (1%), while self-storage revenues soared by $32.1 million (21%). Corporate actions include a name change to U-Haul Holding Company and a 9-for-1 dividend of non-voting shares, starting November 10, 2022.
AMERCO (Nasdaq: UHAL) announced that trading of its new Series N Non-Voting Common Stock will begin on November 9, 2022. This follows an announcement on October 24, 2022, regarding the creation and issuance of this new stock series through a 9-for-1 stock dividend to existing Voting Common Stock holders. The new shares will trade under the symbol UHALB and are expected to be distributed after market close on November 9, 2022, to stockholders of record as of November 3, 2022. A regular dividend policy of $0.04 per share per quarter for the new shares has also been announced.