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
Date of Report (Date of Earliest Event Reported): March 21, 2000
ALLMERICA FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-13754 04-3263626
(State or other (Commission File (I.R.S. Employer I.D.
jurisdiction of Number) Number)
Incorporation)
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 March 21, 2000, Allmerica Financial Corporation announced that its
board of directors has authorized the expenditure of up to an additional
$100 million to repurchase outstanding shares of its own common stock.
Item 7. Financial Statements and Exhibits.
Exhibit 99 Press Release dated March 21, 2000, announcing Allmerica
Financial Corporation authorizes expansion of stock
repurchase program.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ALLMERICA FINANCIAL
CORPORATION
By: /s/ Edward J. Parry III
-------------------------
Edward J. Parry III
Vice President,
Chief Financial
Officer, and Treasurer
Date: March 22, 2000
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Exhibit Index
- -------------
Exhibit 99 Press Release dated March 21, 2000, announcing Allmerica
Financial Corporation authorizes expansion of stock
repurchase program.
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EXHIBIT 99
ALLMERICA FINANCIAL BOARD AUTHORIZES
EXPANSION OF STOCK REPURCHASE PROGRAM
WORCESTER, Mass., March 21, 2000 - Allmerica Financial Corporation
(NYSE: AFC) today announced that its board of directors has authorized the
additional expenditure of up to $100 million to repurchase outstanding
shares of the Company's common stock in an ongoing stock buy-back program.
Purchases will be made in the open market or through negotiated
transactions.
"The expansion of our stock repurchase program demonstrates the confidence
we have in our operating strategies and our ability to deliver solid
shareholder value," said John F. O'Brien, Allmerica's president and chief
executive officer.
As of yesterday, the Company had acquired 6,725,800 shares of its own
common stock for approximately $361 million through the repurchase program
initiated in October 1998. Allmerica has about $39 million remaining from
a prior authorization.
Allmerica Financial Corporation is the holding company for a diversified
group of insurance and financial services companies based in Worcester, Mass.
Contact: Investors: Media:
Henry St. Cyr Michael F. Buckley
(508) 855-2959 (508) 855-3099
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