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) May 25, 1999 CENTURYTEL, INC. (Exact name of registrant as specified in its charter) CENTURY TELEPHONE ENTERPRISES, INC. (Former name, if changed since last report) Louisiana 1-7784 72-0651161 (State or other (Commission File (IRS Employer jurisdiction of Number) Identification No.) incorporation) 100 Century Park Drive, Monroe, Louisiana 71203 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (318) 388-9500 Item 5. Other Events. On March 31, 1999, the Company effected a three-for-two stock split in the form of a 50% stock dividend with respect to each share of the Company's common stock outstanding on March 10, 1999. Under Section 11(n) of the Rights Agreement dated as of August 27, 1996 between the Company and the Rights Agent named therein, following the stock split each Right entitled the holder thereof to purchase, on the terms and conditions of the Rights Agreement, 1/225 of a Preference Share at a purchase price of $48.88 per 1/225 of a Preference Share. On May 25, 1999, the Board of Directors of the Company adopted an amendment to the Rights Agreement which increased the purchase price per 1/225 of a Preference Share from $48.88 to $135.00. Copies of such amendment and the Company's press release announcing the adoption of such amendment are attached to this Form 8-K as Exhibits 4.2(ii) and 99.1, respectively. All capitalized terms used in this Item 5 shall have the meanings ascribed to them in the Rights Agreement. 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 thereunto duly authorized. CENTURY TELEPHONE ENTERPRISES, INC. By: /s/ Neil A. Sweasy ------------------------- Neil A. Sweasy Vice President and Controller