Cypress Announces Third-Quarter 2011 Cash Dividend
August 23 2011 - 4:15PM
Business Wire
Cypress Semiconductor Corp. (Nasdaq: CY) today announced that
its Board of Directors has approved a third-quarter 2011 cash
dividend of $0.09 per share payable to holders of record of the
Company's common stock at the close of business on October 6, 2011.
This dividend will be paid on October 20, 2011.
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 2011
fiscal year, although the final determination of the tax treatment
of the dividend will be made after the Company’s 2011 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 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® programmable system-on-chip families and derivatives such as
PowerPSoC® solutions for high-voltage and LED lighting
applications, 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. Cypress is
also a leader in high-performance memories and programmable timing
devices. 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, PowerPSoC, CapSense, West
Bridge and EZ-USB are registered trademarks of Cypress
Semiconductor Corporation. Programmable System-on-Chip, and CyFi
are trademarks of Cypress Semiconductor Corp. All other trademarks
are the property of their respective owners.
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