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


August 18, 2004


Date of Report (Date of Earliest Event Reported)


THE PEOPLES HOLDING COMPANY


(Exact Name of Registrant as Specified in its Charter)


Mississippi
1-13253
64-0676974
(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number)
     


209 Troy Street, Tupelo, Mississippi 38802-0709


(Address of Principal Executive Offices)(Zip Code)



Registrant’s Telephone Number: (662)680-1001





ITEM 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c) The following exhibit is filed herewith:
   
99.1    Press Release, dated August 18, 2004, issued by The Peoples Holding Company.

ITEM 9: REGULATION FD DISCLOSURE.

On August 18, 2004, The Peoples Holding Company issued a press release announcing the declaration of a quarterly cash dividend on its common stock of $0.21 per share payable October 1, 2004, to its shareholders of record on September 20, 2004. This reflects a $0.01 per share increase in its quarterly cash dividend. The press release is furnished 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
 
  Registrant  
     
     
DATE: August 18, 2004 /s/ E. Robinson McGraw
 
  E. Robinson McGraw
  President & Chief Executive Officer





EXHIBIT INDEX
EXHIBIT NUMBER
DESCRIPTION
99.1      Press Release, dated August 18, 2004, 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.phcfc.com

Press Release


For additional information, contact:

Jim Gray
Executive Vice President, Investor Relations & Planning Director
(662) 680-1217
   
Stuart Johnson
Executive Vice President & Chief Financial Officer
(662) 680-1472
   
Date: August 18, 2004


The Peoples Holding Company Declares Dividend

         At the monthly meeting on Tuesday, August 17, 2004, the board of directors of The Peoples Holding Company (AMEX: PHC) approved the payment of a quarterly cash dividend of twenty-one cents ($0.21) per share to be paid October 1, 2004, to shareholders of record September 20, 2004. This dividend represents a one-cent increase per share compared to the first quarter of 2004.

        The Peoples Holding Company is the parent of The Peoples Bank & Trust Company, Mississippi's fourth largest commercial bank headquartered in the state, The Peoples Insurance Agency, Inc. and Renasant Bank of Germantown, Tennessee. PHC has assets in excess of $1.6 billion and operates 48 community bank, insurance and financial services offices in 29 cities in Mississippi and Tennessee.