Cypress Semiconductor Corp. (NASDAQ:CY) today announced that its Board
of Directors has approved a quarterly cash dividend of $0.11 per share
payable to holders of record of the Company's common stock at the close
of business on December 27, 2012. This dividend will be paid on January
17, 2013.
It is expected that the declared dividend will be paid from U.S.
domestic sources other than the Company's retained earnings and is
expected to be treated as a return of capital for U.S. tax purposes for
the 2013 fiscal year, although the final determination of the tax
treatment of the dividend will be made after the Company’s 2013 fiscal
year end. The Company will provide direction annually on the potential
tax treatment of the dividend for U.S. tax purposes.
Cypress’s dividend policy and the payment of cash dividends under that
policy are subject to the Board's continuing determination that the
dividend policy and the declaration of dividends are in the best
interests of Cypress’s stockholders and are in compliance with all laws
and agreements of Cypress applicable to the declaration and payment of
cash dividends. The dividend policy may be changed or cancelled at the
Company’s discretion at any time.
About Cypress
Cypress delivers high-performance, mixed-signal, programmable solutions
that provide customers with rapid time-to-market and exceptional system
value. Cypress offerings include the flagship PSoC® 1, PSoC
3, and PSoC 5 programmable system-on-chip families and derivatives,
CapSense® touch sensing and TrueTouch® solutions
for touchscreens. Cypress is the world leader in USB controllers,
including the high-performance West Bridge® solution that
enhances connectivity and performance in multimedia handsets, PCs, and
tablets. Cypress is also the world leader in SRAM memories. Cypress
serves numerous markets including consumer, mobile handsets,
computation, data communications, automotive, industrial, and military.
Cypress trades on the NASDAQ Global Select Market under the ticker
symbol CY. Visit Cypress online at www.cypress.com.
Forward-Looking Statements
This release may be deemed to contain forward-looking statements,
which are subject to the safe harbor provisions of the Private
Litigation Reform Act of 1995. These forward-looking statements include,
among other things, statements regarding its adoption of a dividend
policy, any future payments made under that policy, any decision to
cancel or change the dividend policy, each of which involve risks and
uncertainties. Readers are cautioned that these forward-looking
statements are only predictions and may differ materially from actual
future events or results due to a variety of factors, including: the
discretion of management and the board as to whether declaring a
dividend is in the best interests of the Company, the business and
economic conditions and growth trends in the semiconductor industry and
in various geographic regions; our ability to manage financial risk; and
other factors listed in Cypress’s most recent reports on Form 10-K, 10-Q
and 8-K. The information above speaks only as of the date of this
release.
Cypress and the Cypress logo, PSoC, TrueTouch, CapSense, and West
Bridge are registered trademarks of Cypress Semiconductor Corporation.
All other trademarks are the property of their respective owners.
