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: December 8, 2003

                Date of earliest event reported: December 5, 2003



                          MAINE & MARITIMES CORPORATION

             (Exact name of registrant as specified in its charter)



                                      Maine

                         (State or other jurisdiction of

                         incorporation or organization)

                                   333-103749

                              (Commission File No.)

                                   30-0155348

                      (I.R.S. Employer Identification No.)

                   209 State Street, Presque Isle, Maine 04769

               (Address of principal executive offices) (Zip Code)

                   Registrant's telephone number: 207-760-2499




Maine & Maritimes Corporation


Item 5. Other Events.

      Maine & Maritimes Corporation Declares Increase in Quarterly Dividend

At the board meeting held on December 5, 2003, the Board of Directors of Maine &
Maritimes Corporation declared a regular quarterly dividend of $.38 per share
(annualized rate of $1.52 per share) on the Company's Common Stock payable
January 1, 2004, to shareholders of record as of December 18, 2003. This
represents a $0.01 increase per share in the quarterly dividend over the
previous quarter, or an annualized increase of $0.04 per share. (Press Release
Attached)


Maine & Maritimes Corporation Declares Increase In Quarterly Dividend

    PRESQUE ISLE, Maine--(BUSINESS WIRE)--Dec. 8, 2003--Maine &
Maritimes Corporation (AMEX: MAM) today announced that its Board of
Directors, at their regularly scheduled meeting on December 5, 2003,
declared a quarterly dividend of $0.38 per share on its common stock,
an increase of $0.01 per share quarterly, for an annualized rate of
$1.52 per share. The common dividend is payable January 1, 2004, to
shareholders of record as of December 18, 2003.
    The increase in the dividend is based on the Company's performance
exceeding internal management expectations. The Company's President &
CEO, J. Nicholas Bayne, explains, " We are very pleased with our
results, particularly when taking into consideration the increased
costs the Company incurred in forming its new holding company,
strategic costs associated with implementing its growth strategy, as
well as increases in insurances and regulatory costs."
    Maine & Maritimes Corporation recently announced the formation of
two new subsidiaries, Maine & Maritimes Energy Services Company and
its Canadian subsidiary Maricor Ltd., as well as the acquisition of a
Canadian-based engineering firm. In the Company's recent web cast, Mr.
Bayne stated, "We remain focused on creating long-term shareholder
value, including goals of creating growth in share price, as well as
continuing market-competitive dividend yields."
    Maine & Maritimes Corporation is the parent company of Maine
Public Service Company, an independent transmission and distribution
utility; Energy Atlantic, LLC, a competitive electricity supply
company; Maine & Maritimes Energy Services Company, all headquartered
in Presque Isle, Maine, as well as Maricor Ltd., a Canadian-based
subsidiary of Maine & Maritimes Energy Services Company. The Company's
website is www.maineandmaritimes.com.

    Forward Looking Information:

    Except for historical information, all other information provided
in this news release consists of "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1935.
These "forward-looking statements" are subject to risks and
uncertainties, which could cause actual results to differ materially
from those projected, anticipated or implied. The most significant of
these risks and uncertainties are discussed and identified in Maine &
Maritimes Corporation's public filings made with the Securities and
Exchange Commission, and include (but are not limited to) a possible
inability to raise adequate capital to execute proposed strategies,
changes in overall strategy due to economic, regulatory, governmental
and/or market conditions, the costs and difficulties related to
integration of potentially acquired businesses, potential changes in
customer and supplier relationships of potentially acquired firms,
changes in governmental regulations, changes in management, and
changes in financial markets.

    CONTACT: Maine & Maritimes Corporation
             Annette N. Arribas, 207-760-2402
             aarribas@maineandmaritimes.com



                                    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, hereunto duly authorized.

MAINE & MARITIMES CORPORATION

Date:  December 8, 2003



By: /S/ J. Nicholas Bayne
        President & CEO