UNITED COMPANIES FINANCIAL CORP
10-C, 1994-11-17
MORTGAGE BANKERS & LOAN CORRESPONDENTS
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<PAGE>   1

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-C

                REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
                          INTERDEALER QUOTATION SYSTEM

  FILED PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
                      AND RULE 13a-17 OR 15d-17 THEREUNDER


                    United Companies Financial Corporation
- - --------------------------------------------------------------------------------
                 (Exact name of issuer as specified in charter)

            4041 Essen Lane, P.O. Box 1591, Baton Rouge, LA 70821
- - --------------------------------------------------------------------------------
                    (Address of principal executive offices)

Issuer's telephone number, including area code (504) 924-6007
                                              ----------------------------------


                   I. CHANGE IN NUMBER OF SHARES OUTSTANDING

   Indicate any change (increase or decrease) of 5% or more in the number of
   shares outstanding:

   1.   Title of security    Common Stock par value $2.00 per share
                         -------------------------------------------------------
   2.   Number of shares outstanding before the change  12,445,978
                                                      --------------------------
   3.   Number of shares outstanding after the change approximately 13,690,575* 
                                                     ---------------------------
   4.   Effective date of change  December 22, 1994
                                ------------------------------------------------
   5.   Method of change:
        Specify method (such as merger, acquisition, exchange, distribution,
        stock split, reverse split, acquisition of stock for treasury, etc.)
        Stock Dividend declared October 26, 1994
        ------------------------------------------------------------------------
        Give brief description of transaction 
        10% stock dividend to be paid on January 10, 1995 to shareholders of 
        ------------------------------------------------------------------------
        record on December 22, 1994. Cash will be paid for fractional shares.
        ------------------------------------------------------------------------


                         II. CHANGE IN NAME OF ISSUER

   1.   Name prior to change
                            ----------------------------------------------------
   2.   Name after change
                         -------------------------------------------------------
   3.   Effective date of charter amendment changing name
                                                         -----------------------
   4.   Date of shareholder approval of change, if required
                                                           ---------------------


                                         /s/ Sherry E. Anderson, Senior
Date     11/15/94                            Vice President and Secretary
    --------------------                 ---------------------------------------
                                             (Officer's signature and title)

*  To be adjusted for cash paid for fractional shares.


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