U-Haul 2008 Annual Report Download - page 81

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
On September 13, 2006, we announced that our Board of Directors (the “Board”) had authorized us to repurchase up to
$50.0 million of our common stock from time to time on the open market between September 13, 2006 and October 31,
2007. On March 9, 2007, the Board authorized an increase in the Company’ s common stock repurchase program to a total
aggregate amount, net of brokerage commissions, of $115.0 million (which amount is inclusive of the $50.0 million
common stock repurchase program approved by the Board in 2006). During the first quarter of fiscal 2008, we repurchased
485,999 shares at the cost of $34.0 million. This program terminated on October 31, 2007.
The repurchases made by the Company under this plan were as follows:
April 1 - 30, 2007 196,232 69.94$ 196,232 13,723,504$ 52,170,394$
May 1 - 31, 2007 218,090 69.85 218,090 15,234,536 36,935,858
June 1 - 30, 2007 71,677 69.87 71,677 5,008,018 31,927,840
First Quarter Total 485,999 69.89$ 485,999 33,966,058$
Cumulative Plan Total 1,225,290 67.80$ 1,225,290 83,072,160$
(1) Represents weighted average purchase price for the periods presented.
Total # of
Shares
Repurchased
Total $ of Shares
Repurchased as
Part of Publicly
Announced Plan
Maximum $ of
Shares That May Yet
be Repurchased
Under the Plan
Average
Price Paid
per Share (1)
Total # of Shares
Repurchased as
Part of Publicly
Announced PlanPeriod
On December 5, 2007, we announced that the Board had authorized us to repurchase up to $50.0 million of our common
stock. The stock may be repurchased by the Company from time to time on the open market between December 5, 2007
and December 31, 2008. The extent to which the Company repurchases its shares and the timing of such purchases will
depend upon market conditions and other corporate considerations. The purchases will be funded from available working
capital. During the fourth quarter of fiscal 2008, the Company repurchased 428,000 shares at a cost of $23.5 million.
The repurchases made by the Company under this plan were as follows:
January 1 - 31, 2008 - -$ - -$ 50,000,000$
February 1 - 29, 2008 428,000 54.94$ 428,000 23,512,380$ 26,487,620$
March 1 - 31, 2008 - -$ - -$ 26,487,620$
Fourth Quarter Total 428,000 54.94$ 428,000 23,512,380$
(1) Represents weighted average purchase price for the periods presented.
Average Price
Paid per
Share (1)Period
Total # of Shares
Repurchased
Maximum $ of
Shares That May
Yet be Repurchased
Under the Plan
Total # of Shares
Repurchased as Part
of Publicly
Announced Plan
Total $ of Shares
Repurchased as
Part of Publicly
Announced Plan
F-24