Cypress Announces Quarterly Cash Dividend Payment

  Cypress Announces Quarterly Cash Dividend Payment

Business Wire

SAN JOSE, Calif. -- October 17, 2013

Cypress Semiconductor Corp. (NASDAQ: CY) today announced that it has paid the
quarterly cash dividend of $0.11 per share approved by its Board of Directors
payable to holders of record of the Company's common stock at the close of
business on September 26, 2013.

The dividend will be paid from U.S. domestic sources other than the Company's
retained earnings and will be treated as a return of capital for U.S. tax
purposes for the 2013 fiscal year. Cypress’s cash 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, PSoC 4, and PSoC 5
programmable system-on-chip families. Cypress is the world leader in
capacitive user interface solutions including CapSense^® touch sensing,
TrueTouch^® touchscreens, and trackpad solutions for notebook PCs and
peripherals. Cypress is a world leader in USB controllers, which enhance
connectivity and performance in a wide range of consumer and industrial
products. Cypress is also the world leader in SRAM and nonvolatile RAM
memories. Cypress serves numerous major 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 cash dividend policy, any future payments made
under that policy, any decision to cancel or change the cash dividend policy,
the judgment as to the tax treatment of such dividends, 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 cash 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.

IRS Circular 230 disclosure: To ensure compliance with requirements imposed by
the IRS, we inform you that any tax advice contained in this communication,
unless expressly stated otherwise, was not intended or written to be used, and
cannot be used, for the purpose of (i) avoiding tax-related penalties under
the Internal Revenue Code or (ii) promoting, marketing or recommending to
another party any tax-related matter(s) addressed herein.

Cypress and the Cypress logo, PSoC, TrueTouch and CapSense 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
or
Joseph L. McCarthy, 408-943-2902
Director Corporate Communications
 
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