U-Haul 2004 Annual Report Download - page 17

Download and view the complete annual report

Please find page 17 of the 2004 U-Haul annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 125

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125

PART II
Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases
of Equity Securities
As of April 30, 2004, there were approximately 3,000 holders of record of the common stock.
AMERCO's trading symbol is ""UHAL''.
The following table sets forth the high and the low sales price of the common stock of AMERCO for the
periods indicated:
For the Years Ended March 31,
2004 2003
High Low High Low
First quarter ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 9.12 $ 3.10 $18.50 $13.90
Second quarter ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $26.66 $ 6.85 $14.99 $ 6.19
Third quarter ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $28.90 $16.35 $10.40 $ 1.36
Fourth quarter ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $24.34 $21.05 $ 6.00 $ 2.77
The common stock of U-Haul is wholly owned by AMERCO. As a result, no active trading market exists
for the purchase and sale of such common stock.
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. The Company's
new credit facility and its senior note indentures limit the Company's ability to pay dividends and accordingly,
the Company does not anticipate declaring and paying dividends on its common stock in the foreseeable
future.
U-Haul has not declared cash dividends to AMERCO during the three most recent Ñscal years.
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 Ñscal 2004, we did not repurchase any shares of our equity securities.
12