Amerco defers preferred stock dividend again

New York, Feb. 6 - Amerco said it deferred the dividend payable March 1 on its series A 8½% preferred stock.

The deferral is the second since the company began its debt restructuring on Oct. 15.

As part of the restructuring process, the Reno, Nev. parent of U-Haul International, Inc. said it is in negotiations with financial institutions for loans for as much as $650 million. The company anticipates that part of the proceeds of the new loans will replace certain existing debt and bring current all preferred stock dividends.

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