U-Haul 2016 Annual Report Download - page 20

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14
Environmental
Compliance with environmental requirements of federal, state and local governments may significantly
affect Real Estate’s business operations. Among other things, these requirements regulate the discharge
of materials into the air, land and water and govern the use and disposal of hazardous substances. Real
Estate is aware of issues regarding hazardous substances on some of its properties. Real Estate
regularly makes capital and operating expenditures to stay in compliance with environmental laws and
has put in place a remedial plan at each site where it believes such a plan is necessary. Since 1988, Real
Estate has managed a testing and removal program for underground storage tanks.
Based upon the information currently available to Real Estate, compliance with the environmental laws
and its share of the costs of investigation and cleanup of known hazardous waste sites are not expected
to result in a material adverse effect on AMERCO’s financial position or results of operations.
Other
We are named as a defendant in various other litigation and claims arising out of the normal course of
business. In management’s opinion, none of these other matters will have a material effect on our
financial position and results of operations.
Item 4. Mine Safety Disclosure
Not applicable.
PART II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities
As of May 2, 2016, there were approximately 2,900 holders of record of our common stock. We
derived the number of our stockholders using internal stock ledgers and utilizing Mellon Investor Services
Stockholder listings. AMERCO’s common stock is listed on the NASDAQ Global Select Market under the
trading symbol “UHAL”.
The following table sets forth the high and the low sales price of the common stock of AMERCO for
the periods indicated:
Years Ended March 31,
2016
2015
High
Low
High
Low
First quarter
$
338.41
$
318.55
$
297.08
$
224.71
Second quarter
414.13
321.47
294.45
255.97
Third quarter
436.89
375.00
291.54
231.53
Fourth quarter
389.00
305.66
335.00
266.26
Dividends
AMERCO does not have a formal dividend policy. The Board periodically considers the advisability of
declaring and paying dividends to common stockholders in light of existing circumstances.
Common Stock Dividends
Declared Date
Per Share Amount
Record Date
Dividend Date
March 15, 2016
$
1.00
April 5, 2016
April 21, 2016
August 28, 2015
3.00
September 16, 2015
October 2, 2015
June 4, 2015
1.00
June 19, 2015
July 1, 2015
February 4, 2015
1.00
March 6, 2015
March 17, 2015
December 4, 2013
1.00
January 10, 2014
February 14, 2014
See Note 20, Statutory Financial Information of Insurance Subsidiaries of the Notes to Consolidated
Financial Statements for a discussion of certain statutory restrictions on the ability of the insurance
subsidiaries to pay dividends to AMERCO.