U-Haul 2006 Annual Report Download - page 98

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Dividends
AMERCO does not have a formal dividend policy. The Board of Directors of AMERCO periodically considers
the advisability of declaring and paying dividends in light of existing circumstances
U-Haul has not declared cash dividends to AMERCO during the three most recent fiscal years. On January 1,
2006, U-Haul paid a non-cash dividend to AMERCO in the form of a reduction in an intercompany payable.
See Note 20 of Notes to Consolidated Financial Statements for a discussion of certain statutory restrictions on the
ability of the insurance subsidiaries to pay dividends to AMERCO.
See Note 11 of Notes to Consolidated Financial Statements for a discussion of AMERCO’ s preferred stock.
During the fourth quarter of fiscal 2006 we did not repurchase any shares of our equity securities.
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