8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): September 30, 2008

HECLA MINING COMPANY

(Exact Name of Registrant as Specified in Its Charter)

Delaware	1-8491	77-0664171
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

6500 North Mineral Drive, Suite 200

Coeur d'Alene, Idaho 83815-9408

(Address of Principal Executive Offices) (Zip Code)

(208) 769-4100

(Registrant's Telephone Number, Including Area Code)

N/A

(Former name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12(b))

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 3.02.Unregistered Sales of Equity Securities.

On September 30, 2008, Hecla Mining Company (“Hecla”) announced the calculation of the ratio at which it would issue shares of its common stock, par value $0.25 per share, for a previously announced regular quarterly dividend on its outstanding 6.5% Mandatory Convertible Preferred Stock in the amount of $1.625 per share. The total amount of such stock dividend is approximately $3.27 million in Hecla common stock (or approximately 622,265 shares, with cash for fractional shares). The stock dividend payment date was on October 1, 2008. A copy of the press release making the announcement is filed herewith as Exhibit 99.1 and incorporated into this Item 3.02 by reference.

The issuance of shares to its existing holders of 6.5% Mandatory Convertible Preferred Stock is exempt from registration as it involves no sale for value in which any investment decision is made and/or no public offering pursuant to Section 4(2) of the Securities Act of 1933.

Item 8.01.Other Events.

As described above in Item 3.02, Hecla announced the calculation of the ratio at which it would issue shares of its common stock for a previously announced regular quarterly dividend on its outstanding 6.5% Mandatory Convertible Preferred Stock. A copy of the press release making the announcement is filed herewith as Exhibit 99.1 and incorporated into this Item 8.01 by reference.

Item 9.01.Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description
99.1	Press Release dated September 30, 2008

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.

Dated:  October 2, 2008

Hecla Mining Company
By:	/s/ Philip C. Wolf
	Philip C. Wolf Senior Vice President & General Counsel

EX-99.1

Exhibit 99.1

NEWS RELEASE

HECLA ANNOUNCES PAYMENT OF PREFERRED DIVIDENDS

FOR IMMEDIATE RELEASE

September 30, 2008

COEUR D’ALENE, IDAHO — (HL:NYSE) On August 28, 2008, Hecla Mining Company announced that its Board of Directors, by unanimous written consent, had elected to declare the regular quarterly dividend on the outstanding 6.5% Mandatory Convertible Preferred Stock in the amount of $1.625 per share and to pay such dividend in Common Stock of Hecla, for a total amount of approximately $3.27 million in Hecla Common Stock (with cash for fractional shares).

Each holder of the 6.5% Mandatory Convertible Preferred Stock will receive 0.3092 shares of Hecla’s Common Stock per share of Mandatory Convertible Preferred Stock. The value of the shares of Common Stock issued as dividends was calculated at 97% of the average of the closing prices of Hecla’s Common Stock over the five consecutive trading day period ending on the second trading day immediately preceding the dividend payment date of October 1, 2008. There will be no fractional shares issued, so a cash adjustment will be paid to each holder that would be entitled to a fraction of a share of Common Stock (based on a price of $5.42 per share of Common Stock, the average of the closing prices of Hecla’s Common Stock over the five consecutive trading day period ending on the second trading day immediately preceding the dividend payment date). There are a total of 2,012,500 shares of 6.5% Mandatory Convertible Preferred Stock outstanding. Hecla will capitalize retained earnings for the fair market value of the shares of Common Stock to be issued as dividends. Sale of the shares of Common Stock received as a dividend by a holder will reduce a holder's proportionate equity in the company.

Hecla Mining Company, headquartered in Coeur d'Alene, Idaho, mines, processes and explores for silver and gold in the United States and Mexico. A 117-year-old company, Hecla has long been well known in the mining world and financial markets as a quality producer of silver and gold. Hecla's common and preferred shares are traded on the New York Stock Exchange under the symbols “HL,” “HL-PrB” and “HL-PrC.”

Contact:  Vicki Veltkamp, vice president - investor and public relations, 208/769-4128

Hecla's Home Page can be accessed on the Internet at www.hecla-mining.com.

6500 N Mineral Drive, Suite 200 • Coeur d'Alene, Idaho 83815-9408 • 208/769-4100 • FAX 208/769-7612