AMERCO release fourth quarter financial report, special cash dividend

AMERCO, parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, reported net earnings for the third quarter ended Dec. 31, 2016, of $65.2 million, or $3.33 per share, compared with net earnings of $81.8 million, or $4.17 per share, for the same period last year.

For the nine-month period ended Dec. 31, 2016, net earnings available to shareholders were $388.9 million, or $19.85 per share, compared with net earnings of $436.4 million, or $22.27 per share, for the same period last year. Included in the results for the nine-month period ended Dec. 31, 2016, was an after tax benefit of $0.79 per share associated with our settlement of the PEI litigation that resulted in a reduction in operating expenses of $24.6 million. Excluding this after tax benefit, adjusted earnings were $19.06 per share for the nine-month period ended Dec. 31, 2016.

AMERCO also declared a special cash dividend on its common stock of $1 per share. The dividend will be payable March 9 to shareholders of record on Feb. 23.