AMERCO REPORTS SECOND QUARTER FISCAL 2013 FINANCIAL RESULTS; BOARD DECLARES SPECIAL CASH DIVIDEND OF $5.00 PER SHARE
November 7, 2012 Download
RENO, Nev. (November 7, 2012)--AMERCO (Nasdaq: UHAL), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, today reported its financial results for the second quarter ended September 30,2012, and its Board of Directors declared a special cash dividend of $5.00 per share, payable on November 30, 2012 to stockholders of record as of November 19, 2012.
AMERCO’s net earnings available to common shareholders for its second quarter ended September 30, 2012 were $109.4 million, or $5.61 per share, compared with net earnings of $101.2 million, or $5.20 per share, for the same period last year.
For the six-month period ended September 30, 2012, net earnings available to common shareholders were $190 million, or $9.74 per share compared with net earnings of $170.4 million, or $8.75 per share, for the same period last year. The first six months of the last fiscal year included a $0.30 per share one-time charge related to the redemption of our Series A 8½% Preferred Stock.
“Our Moving and Self-Storage segment continues to produce strong results,” stated Joe Shoen, chairman of AMERCO. “We will continue to work hard to build on this success as we enter our traditionally slower fall and winter quarters.
“Hurricane Sandy affected operations at about 100 Company operated locations, all but one are now open. We have storm-damaged buildings, rental equipment and customer’s belongings. It will be weeks before we can assess the storm’s financial impact,” concluded Shoen.