STILLWATER MINING CO /DE/
8-K, 1998-12-30
MISCELLANEOUS METAL ORES
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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): December 8, 1998



                            STILLWATER MINING COMPANY
            --------------------------------------------------------
             (Exact name of registrant as specified in its charter)



INCORPORATED UNDER THE LAWS OF DELAWARE      0-25090            81-0480654
- --------------------------------------------------------------------------------
    (State or other jurisdiction           (Commission        (IRS Employee
         of incorporation)                 File Number)     Identification No.)



1200 SEVENTEENTH STREET, SUITE 900, DENVER, CO                 80202
- --------------------------------------------------------------------------------
(Address of principal executive offices)                     (Zip Code)



       Registrant's telephone number, including area code: (303) 352-2060
                                                           --------------


<PAGE>

ITEM 5.  OTHER EVENTS

        On December 8, 1998,  Stillwater Mining Company announced that its Board
of  Directors  approved a 50% stock  dividend on the  Company's  common stock to
shareholders of record on December 21, 1998. In the stock dividend,  each holder
of two shares of the Company's  common stock  outstanding  prior to the dividend
will  receive  a  dividend  of one  share of the  Company's  common  stock.  The
distribution  date for the stock dividend will be December 31, 1998.  Fractional
shares will be paid in cash.  As a result of the stock  divided,  the  Company's
outstanding  shares will increase from 23.0 million shares to approximately 34.5
million shares.


<PAGE>

                                   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.


               STILLWATER MINING COMPANY
               (Registrant)


Date  December 30, 1998       By: /S/   JAMES A. SABALA
                                 -----------------------------------------------
                              Name:  James A. Sabala
                              Title: Vice President and Chief Financial Officer


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