Cypress Announces Quarterly Cash Dividend

  Cypress Announces Quarterly Cash Dividend

Business Wire

SAN JOSE, Calif. -- February 25, 2013

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
March 28, 2013. This dividend will be paid on April 18, 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

Contact:

Cypress Semiconductor Corp.
Brad W. Buss, 408-943-2754
EVP Finance & Administration and CFO
Joseph L. McCarthy, 408-943-2902
Director Corporate Communications
 
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