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MELLON BANK CORPORATION DECLARES QUARTERLY DIVIDENDS

 PITTSBURGH, Jan. 14 /PRNewswire/ -- At its regular meeting, the board of directors of Mellon Bank Corporation (NYSE: MEL) today 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. In addition, the board declared a quarterly dividend on Mellon Series D junior preferred stock of $.644 per share.
 The board had previously declared, at its meeting on Nov. 16, 1993, a quarterly dividend of $.56 per share on the Corporation's common stock. This represents a 47 percent increase from the previous quarterly amount.
 Dividends on Mellon common stock, Series D junior preferred stock, Series H preferred stock, Series I preferred stock, Series J preferred stock and Series K preferred stock are payable on Feb. 15, 1994, to shareholders of record at the close of business on Jan. 31, 1994.
 With assets of approximately $36 billion, Mellon Bank Corporation is a major superregional bank holding company. Through its subsidiaries, it provides wholesale, middle market and retail banking, as well as numerous fee-based service products, including trust and investment, cash management and mortgage banking.
 /delval/
 -0- 1/14/94
 /CONTACT: analysts, Charles M. Johnston, 412-234-5601, or media, Margaret K. Cohen, 412-234-0850, both of Mellon Bank/
 (MEL)


CO: Mellon Bank Corporation ST: Pennsylvania IN: FIN SU: DIV

KC -- PG002 -- 1189 01/14/94 11:02 EST
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Publication:PR Newswire
Date:Jan 14, 1994
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