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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) - September 20, 1994
MELLON BANK CORPORATION
(Exact name of registrant as specified in charter)
Pennsylvania 1-7410 25-1233834
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One Mellon Bank Center
500 Grant Street
Pittsburgh, Pennsylvania 15258
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code - (412) 234-5000
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ITEM 5. OTHER EVENT
Mellon Bank Corporation (the "Corporation") announced an
increase in the quarterly cash dividend and a three-for-two
split of the Corporation's Common Stock.
The Corporation's increased its Common Stock dividend by 21%
to 67.5 cents per share on a pre-split basis, payable on
November 15, 1994 to shareholders of record at the close of
business on October 31, 1994.
The Corporation also announced a three-for-two stock split
of its Common Stock which is being structured as a special
dividend of one additional share of Common Stock being paid
on every two outstanding shares of its Common Stock. The
additional shares resulting from the split will be distributed
on November 15, 1994 to holders of record on November 1, 1994.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit
Number Description
99.1 Mellon Bank Corporation's Press Release, dated
September 20, 1994, announcing an increase in the
Corporation's Common Stock dividend and a three-for-two
stock split of its Common Stock.
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.
MELLON BANK CORPORATION
Date: September 21, 1994 By: James M. Gockley
James M. Gockley
Assistant General Counsel
and Secretary
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EXHIBIT INDEX
Number Description Method of Filing
99.1 Press Release dated Filed herewith
September 20, 1994
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EX-99.1
[Logo of Mellon Bank Corporation]
ANALYSTS:
--------
Donald J. MacLeod
(412) 234-5601
Contact: MEDIA: Corporate Affairs Group
----- One Mellon Bank Center
Margaret K. Cohen Pittsburgh, PA 15258-0001
(412) 234-0850
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MELLON ANNOUNCES DIVIDEND INCREASE AND THREE-FOR-TWO STOCK SPLIT
PITTSBURGH, Sept. 20, 1994 -- The board of directors of Mellon Bank
Corporation (NYSE: MEL) today approved an increase in the quarterly
cash dividend and a three-for-two split of the Corporation's common
stock.
Mellon increased its common dividend by 21 percent to 67.5 cents
per share on a pre-split basis. The increased dividend is payable
on Nov. 15, 1994, to shareholders of record on Oct. 31, 1994.
The three-for-two stock split is being structured as a special
stock dividend of one additional share of common stock being paid
on every two currently outstanding shares of common stock. The
additional shares resulting from the split will be distributed on
Nov. 15, 1994, to holders of record on Nov. 1, 1994. On a
post-split basis, the Corporation's quarterly dividend would
amount to 45 cents per share.
"Our dividend increase reflects the Corporation's strong capital
position and earnings," said Frank V. Cahouet, chairman, president
and chief executive officer of Mellon Bank Corporation. "The
stock split should provide for a more favorable trading range and
broaden the distribution of Mellon's shares."
The board also declared quarterly dividends on Mellon Series H
preferred stock (NYSE: MEL Pr H) at the rate of $2.60 per share per
annum; Mellon Series I preferred stock (NYSE: MEL Pr I) at the rate
of $2.40 per share per annum; Mellon Series J preferred stock
(NYSE: MEL Pr J) at the rate of $2.125 per share per annum; and
Mellon Series K preferred stock (NYSE: MEL Pr K) at the rate of
$2.05 per share per annum. Dividends on the Series H preferred
stock, Series I preferred stock, Series J preferred stock and
Series K preferred stock are payable on Nov. 15, 1994, to
shareholders of record at the close of business on Oct. 31, 1994.
With assets of approximately $37 billion, Mellon Bank Corporation
is a major financial services company headquartered in Pittsburgh,
providing a full range of banking and investment services and
products to individuals and small, mid-sized and large companies
and institutions.
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