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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
Date of Report (Date of Earliest Event Reported): June 7,1996
CITIZENS CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-11714 04-3178765
(State or otherjurisdic- (Commission File Number) (I.R.S. EmployerI.D.
tion of Incorporation) Number)
440 Lincoln Street, Worcester, Massachusetts 01653
(Address of Principal Executive Offices)
(Zip Code)
(508) 855-1000
(Registrant's Telephone Number including area code)
Page 1 of 5 pages
Exhibit Index on page 4
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Item 5. Other Events.
On June 7, 1996, Citizens Corporation announced that
its Board of Directors had authorized the repurchase of
an additional 1.0 million shares of common stock.
The board has authorized the repurchase of 1.8 million shares since
July of 1995. The Company has repurchased approximately
750,000 shares to date. The press release announcing the
expansion of the stock repurchase program is attached
hereto as Exhibit 99 and is incorporated by reference
herein.
Item 7. Financial Statements and Exhibits.
Exhibit 99 Press Release dated June 7, 1996,
announcing the expansion of the stock repurchase program.
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SIGNATURES
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.
CITIZENS CORPORATION
By:/s/ Edward J. Parry, III
Edward J. Parry,III
Treasurer
Date: June 12, 1996
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Exhibit Index
Exhibit 99 Press Release dated June 7, 1996,
announcing the expansion of the stock repurchase program.
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Exhibit 99
CITIZENS CORPORATION EXPANDS STOCK REPURCHASE PROGRAM
WORCESTER, Mass., June 7, 1996 - The Board of Directors of
Citizens Corporation (NYSE: CZC) today expanded an ongoing
stock buy-back program, authorizing the repurchase of an
additional one million shares of common stock.
The board has authorized the repurchase of 1.8 million
shares since July of 1995. To date, the company has
repurchased nearly 750,000 shares under the program.
Citizens, through its wholly-owned subsidiary, Citizens
Insurance Company of America, is one of Michigan's leading
underwriters of personal and commercial property and
casualty insurance. It is a member of Allmerica Financial,
a diversified group of insurance and financial services
companies headquartered in Worcester, Mass.
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