Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, today announced that its Board of Directors has declared a quarterly cash dividend on its common stock of 35.2 cents per share. The dividend is payable on December 6, 2012 to stockholders of record on November 21, 2012. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003.
“Microchip continues to generate significant cash flow from operations and we ended the September 2012 quarter with $1.71 billion of cash and investments on the balance sheet,” said Steve Sanghi, President, Chief Executive Officer and Chairman of the Board. “The Board of Directors is pleased to announce our 41 st quarterly dividend payment to our shareholders, and another record payout, exemplifying our commitment to return value to our stockholders.”
The statements contained in this release relating to continuing to generate significant cash flow from operations and our commitment to return value to our stockholders are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to: actual cash flows generated from and used in the operation of our business; actual or projected levels of capital expenditures; our balance of cash and investments and whether such cash and investments are in the U.S. or foreign accounts; the tax impact of distributing accumulated earnings and profits held by our foreign subsidiaries to the U.S.; changes in the tax rates that our stockholders pay on our dividends; the impact of any significant acquisitions we may make; our ability to successfully integrate SMSC’s operations and employees and otherwise realize the expected benefits of such acquisition, changes in demand or market acceptance of our products (including SMSC products and our licensed technology) and the products of our customers; the mix of inventory we hold and our ability to satisfy short-term orders from our inventory; changes in utilization of our manufacturing capacity and our ability to effectively manage our production levels; our ability to control the level of operating expenses relative to our level of revenues; competitive developments including pricing pressures; the level of orders that are received and can be shipped in a quarter; the level of sell-through of our products through distribution; changes or fluctuations in customer order patterns and seasonality; costs and outcome of any current or future tax audit or any litigation involving intellectual property, customers or other issues; disruptions in our business or the businesses of our customers or suppliers due to natural disasters (including any floods in Thailand), terrorist activity, armed conflict, war, worldwide oil prices and supply, public health concerns or disruptions in the transportation system; and general economic, industry or political conditions in the United States or internationally.