A device for mixing and dispensing a paste, such as bone cement, comprises a housing (H) with a feeding mechanism (53), and a cylinder (51) for mixing a powder component and a liquid component forming the paste. A piston assembly includes a paste feeding member (57) located in the cylinder, and a tubular member (54). A mixing member (55) is located in the cylinder (51), and a mixing rod (52) extends within the tubular member (54) of the piston assembly. The mixing rod (52) is movable in the tubular member (54) of the piston assembly. The tubular member (54) is provided with external engagement means (T) by which the paste feeding member (57) is movable within the cylinder (51) in a feeding direction. The feeding movement is operated by the feeding mechanism.