8-K

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)
November 11, 2005

AMBASSADORS GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware
(State or Other Jurisdiction
of Incorporation) No. 0-33347
(Commission File Number) 91-1957010
(IRS Employer
Identification No.)

Dwight D. Eisenhower Building, 110 S. Ferrall Street, Spokane, WA
(Address of principal executive offices) 99202
(Zip Code)

Registrant’s telephone number, including area code
(509) 534-6200

Not Applicable
(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 (17 CFR 230.425)

¨ 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))

Item 8.01 Other Events.

     On November 11, 2005, Ambassadors Group, Inc. (the “Company”) announced that its board of directors increased its quarterly dividend to $0.085 per share from $0.065 per share, an increase of 31%. The new dividend will be paid on December 13, 2005, to all common stockholders of record on November 28, 2005. The Company’s board of directors intends to continually review the Company’s dividend policy to ensure compliance with capital requirements, regulatory limitations, the Company’s financial position and other conditions which may affect the Company’s desire or ability to pay dividends in the future. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein in its entirety.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1: Press Release, dated November 11, 2005.

SIGNATURES

     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.

	AMBASSADORS GROUP, INC.
Date: November 14, 2005	By:	/s/ Chadwick J. Byrd
		Chadwick J. Byrd
		Chief Financial Officer

EX-99.1

EXHIBIT 99.1

NEWS FOR IMMEDIATE RELEASE

CONTACT: Chadwick J. Byrd
(509) 534 — 6200

Ambassadors Group Declares an Increased Quarterly Dividend

Spokane, WA – November 11, 2005

Ambassadors Group, Inc. (NASDAQ: EPAX) (“Company”), a leading provider of educational travel experiences, announced today that its board of directors increased its quarterly dividend 31 percent, to $0.085 per share from $0.065 per share. The new dividend will be paid on December 13, 2005, to all common shareholders of record on November 28, 2005.

Each quarter, the Company’s board of directors will review the dividend payment assessing the amount, timing and alignment with its strategic direction.

About the Company

Ambassadors Group, Inc. is a leading educational travel company that organizes and promotes international and domestic programs for students, athletes, and professionals. These programs provide opportunities for grade school, junior, and senior high school students to visit foreign and domestic destinations to learn about the history, government, economy and culture of such areas, as well as for junior and senior high school athletes to participate in international sports challenges. The Company’s professional programs emphasize meetings and seminars between participants and persons in similar professions abroad.

Forward-Looking Statements

Forward-looking statements, which are included per the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance in future periods, and ability to pay to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Such forward-looking statements speak only as of the date of this report, and are subject to risks including: the consequences of the war with Iraq, conflict in the Middle East, periods of international unrest, the outbreak of disease, changes in the direct-mail environment, changes in conditions in the travel industry, changes in economic conditions and changes in the competitive environment. The Company expressly disclaims any obligation to provide public updates or revisions to any forward-looking statements found herein to reflect any changes in Company expectations or any change in events. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. For a more complete discussion of these and other factors, please refer to the Ambassadors Group, Inc. 10-K filed on March 14, 2005, proxy filed April 14, 2005, and 10Q filed on November 8, 2005.