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 2, 2006



                       KENTUCKY BANCSHARES, INC.
          (Exact Name of Registrant as specified in Charter)


   Kentucky                   33-96358              61-0993464
 (State or other            (Commission            (IRS Employer
  jurisdiction of           File Number)        Identification No.)
  incorporation)


P.O. Box 157, Paris, Kentucky                          40362-0157
(Address of principal executive offices)               (Zip code)


(859)987-1795
(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:

?  Written communications pursuant to Rule 425 under the Securities Act
(17CFR230.425)

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

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

?  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN THE REPORT


  Item 8.01. Other Events

	On March 2, 2006, the Registrant announced an increase in the
quarterly cash dividend to shareholders.  The dividend will be 25 cents
per share, an increase from 23 cents per share for each of the previous
four quarters.  This payment will be made March 31, 2006, to
shareholders of record March 20, 2006.

  Item 9.01.  Financial Statements and Exhibits

Exhibit 99.1 - Press release dated March 2, 2006 announcing the
dividend for the first quarter of 2006.



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.

KENTUCKY BANCSHARES, INC.



Date: March 2, 2006                  By      /s/ Gregory J. Dawson___
         Gregory J. Dawson
         Chief Financial Officer