UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
The Securities Exchange Act of 1934
November 19, 2002
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Date of Report (Date of Earliest Event Reported)
THE PEOPLES HOLDING COMPANY
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(Exact Name of Registrant as Specified in its Charter)
Mississippi 1-13253 64-0676974
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(State or Other (Commission (I.R.S. Iden-
Jurisdiction of File tification
Incorporation) Number) Number)
209 Troy Street, Tupelo, Mississippi 38802-0709
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(Address of Principal Executive Office) (Zip Code)
Registrant's Telephone Number: (662)680-1001
ITEM 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
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(a) The following exhibit is filed herewith:
99.1 Press Release, dated November 20, 2002, issued by The Peoples
Holding Company.
ITEM 9: REGULATION FD DISCLOSURE.
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At the close of business on November 20, 2002, The Peoples Holding
Company issued a press release announcing the declaration of a
quarterly cash dividend on its common stock of $.27 per share which
reflects a $.01 per share increase in its quarterly cash dividend. The
press release is filed as Exhibit 99.1 to this Form 8-K.
SIGNATURE
Pursuant to the requirements of The Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE PEOPLES HOLDING COMPANY
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Registrant
/s/ E. Robinson McGraw
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E. Robinson McGraw
President & Chief Executive Officer
DATE: November 21, 2002
EXHIBIT INDEX
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EXHIBIT NUMBER DESCRIPTION
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99.1 Press Release, dated November 20, 2002, issued by
The Peoples Holding Company.
EXHIBIT 99.1
The Peoples Holding Company (AMEX:PHC)
P.O. Box 709
Tupelo, MS 38801-0709
Phone: (662) 680-1001
Fax: (662) 680-1234
www.thepeoplesbankandtrust.com
Press Release
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For additional information, contact:
Jim Gray
Executive Vice President, Investor Relations and Planning Director
(662) 680-1217
Stuart Johnson
Executive Vice President and Chief Financial Officer
(662) 680-1472
Date: November 20, 2002
PEOPLES HOLDING COMPANY INCREASES QUARTERLY DIVIDEND
At its monthly meeting on Tuesday, November 19, 2002, the board of directors of
The Peoples Holding Company (AMEX: PHC) declared an increase in the quarterly
cash dividend from twenty-six cents ($.26) to twenty-seven cents ($.27) per
share. The dividend is payable January 2, 2003, to shareholders of record
December 16, 2002. This action by the Company's board of directors increases the
annual cash dividend to one dollar and eight cents ($1.08) per share and marks
the sixteenth consecutive year in which the quarterly dividend has been
increased.
In other action, the board approved expensing the fair value of stock options
granted to employees, including options granted during the current year. This is
in keeping with the Financial Accounting Standards Board Statement 123,
"Accounting For Stock-based Compensation." Expensing the Company's stock options
will have a dilutive effect of approximately $.01 per share for 2002. According
to President and CEO, E. Robinson McGraw, this shareholder-oriented step was
taken in response to the current national business climate, and is in line with
the Company's historically conservative approach to business and financial
management.
The Peoples Holding Company is the parent of Mississippi's fourth largest
commercial bank headquartered in the state. Through its wholly owned subsidiary,
The Peoples Bank & Trust Company, the Company is also parent of The Peoples
Insurance Agency, Inc., which is located in Corinth, Louisville and Tupelo. The
Peoples Bank & Trust Company has assets of approximately $1.3 billion and
operates 40 community bank offices in 27 north and north central Mississippi
cities.