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.
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The COVID-19 pandemic has spurred a significant out-migration from densely populated areas like New York City and the San Francisco Bay Area, according to a U-Haul report. In 2020, U-Haul data showed a marked increase in one-way truck rentals, especially from March to June, indicating urban residents relocating to less crowded areas. For instance, 58% of U-Haul traffic from San Francisco were departures, and New York City saw a 35% decrease in truck arrivals. Popular destinations included Bridgeport and Chicago. Overall, self-moves surged post-lockdown, reflecting a rebound in the moving industry.
U-Haul has been named a finalist for two categories in the S&P Global Platts Global Energy Awards, recognizing its corporate sustainability program and expanding green initiatives. This marks the fifth and sixth times U-Haul has received such honors since 2011, out of 300 nominations from over three dozen countries. The company was nominated for the Corporate Social Responsibility Award and the Sustained Excellence–Green Initiative Award.
U-Haul emphasizes its commitment to sustainability through energy-efficient programs and eco-friendly products, maintaining a focus on reducing its environmental impact.
AMERCO (Nasdaq: UHAL) announced a special cash dividend of $2.00 per share on December 9, 2020. The dividend will be paid on December 30, 2020 to shareholders on record as of December 21, 2020. This announcement reflects AMERCO's commitment to returning value to its investors. As the parent company of U-Haul and other subsidiaries, AMERCO continues to lead in the rental and moving industry, with a focus on customer satisfaction and environmental responsibility.
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U-Haul has opened a new self-storage facility in Nashua, N.H., featuring 110 climate-controlled units. Acquired in May 2019, the property also offers truck rentals, portable storage options, and a retail showroom. Planned expansions will add 600 more units, bringing the total to over 700. U-Haul's commitment to the community includes local hiring, with a focus on veterans. The company has maintained operations throughout the COVID-19 pandemic while implementing safety protocols. U-Haul continues to support essential services and the local economy.
AMERCO (Nasdaq: UHAL) reported a significant increase in net earnings for Q2 FY2021, reaching $266.4 million or $13.58 per share, compared to $156.3 million or $7.97 per share in Q2 FY2020. Self-moving equipment rental revenues surged by 16%, while self-storage revenues rose by 10%. The company also experienced a 35% increase in sales of moving and storage products. Cash and credit availability in the Moving and Storage segment improved to $1.29 billion. Despite these gains, AMERCO anticipates a lengthy period to normalize rental equipment investments.
U-Haul is providing 30 days of free self-storage for residents in Alabama, Georgia, and Mississippi affected by Tropical Storm Zeta. This initiative involves 50 self-storage facilities across these states. U-Haul aims to assist those impacted by the storm, which caused significant damage and power outages. The company previously offered similar support in southern Louisiana. U-Haul prides itself on being an official American Red Cross Disaster Responder and continues to serve its communities during challenging times.
U-Haul Company of Northern Louisiana is running a food drive until Nov. 18, benefiting the Food Bank of Northwest Louisiana. Donors of three non-perishable food items at Shreveport facilities will receive one month's free use of a storage unit. This initiative, supported by the Caddo Sheriff's Office, aims to assist community members affected by COVID-19. Last year's drive collected nearly 1,000 pounds of food. The promotion reflects U-Haul's commitment to local community support during challenging times.
AMERCO (Nasdaq: UHAL), parent company of U-Haul International, plans to report its second quarter fiscal 2021 financial results after the market closes on November 4, 2020. An investor conference call and webcast is scheduled for November 5, 2020, at 8 a.m. Arizona Time (10 a.m. ET). The call will be archived for a year for those unable to attend live. U-Haul, founded in 1945, is a leader in the do-it-yourself moving and self-storage industry, operating over 22,000 locations across the U.S. and Canada.