MySQL InnoDB buffer_pool_size not increasing?

There are no errors in the log file, but this doesn't seem to add up to me. Maybe I'm misunderstanding something:

mysql> show variables like '%buffer_pool%';
+-------------------------+-----------+
| Variable_name           | Value     |
+-------------------------+-----------+
| innodb_buffer_pool_size | 268435456 |
+-------------------------+-----------+
1 row in set (0.00 sec)

mysql> show innodb status\G
[...]
----------------------
BUFFER POOL AND MEMORY
----------------------
Total memory allocated 307469458; in additional pool allocated 1046016
Dictionary memory allocated 1258016
Buffer pool size   16384
Free buffers       10303
Database pages     5702
Modified db pages  30
Pending reads 0
Pending writes: LRU 0, flush list 0, single page 0
Pages read 2818, created 2884, written 659615
0.00 reads/s, 0.03 creates/s, 3.48 writes/s
Buffer pool hit rate 1000 / 1000

Is the Buffer pool size in the status different from the configuration setting? I was expecting them to be the same, or pretty close...