On Monday, Shares of Cypress Semiconductor Corporation (NASDAQ:CY), lost -0.28% to $10.61.
Cypress Semiconductor Corp., declared that its Board of Directors 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 31, 2015. This dividend will be paid on January 21, 2016.
We expect that the dividend, which will be paid from U.S. domestic sources other than the Company’s retained earnings, will be treated as a return of capital for U.S. tax purposes for the 2016 fiscal year. However, the characterization of dividend treatment, which is determined on the last day of the fiscal year, can be affected by transactions, the impact of which cannot be determined until after year-end.
Cypress’s dividend policy, and the payment of cash dividends under that policy, are subject to the Board’s ongoing 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 canceled at the Company’s discretion at any time.
Cypress Semiconductor Corporation provides mixed-signal programmable solutions, semiconductor memories, and integrated semiconductor solutions worldwide. The company’s Memory Products division designs and manufactures static random access memory (SRAM) products and nonvolatile RAMs used to store and retrieve data in networking, wireless infrastructure and handsets, computation, consumer, automotive, industrial, and other electronic systems; and general-purpose programmable clocks.
Shares of MRC Global Inc (NYSE:MRC), declined -0.17% to $14.57, during its last trading session.
MRC Global, declared third quarter 2015 results.
The company’s sales were $1.071 billion for the third quarter of 2015, which were 34% lower than the third quarter of 2014 and 11% lower than the second quarter of 2015. The decline was driven by reduced activity across all sectors but particularly upstream. Sales were also negatively influenced by the strengthening of the U.S. dollar, which reduced stated sales by $44 million, or 3% from the third quarter last year.
Net income available to common stockholders, which is net income less dividends attributable to preferred stockholders, for the third quarter of 2015 was $10.0 million, or $0.10 per diluted share, contrast to $50.1 million, or $0.49 per diluted share for the third quarter of 2014.
Andrew R. Lane, MRC Global’s chairman, president and chief executive officer stated, “The third quarter results reflect the continued decline in spending by our customers in response to the current oil and gas commodity price environment. I’m happy with our performance in this difficult market. We are focused on what we can control: winning and retaining customers, controlling costs and strengthening our balance sheet.”
MRC Global Inc., through its auxiliaries, distributes pipes, valves, fittings, and related products and services to the energy and industrial sectors in the Unites States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, in addition to steam and instrumentation products.
Finally, Shares of American Electric Power Company Inc (NYSE:AEP), ended its last trade with 0.91% gain, and closed at $54.45.
American Electric Power, has planned a live audio webcast of remarks by AEP Chairman, President and Chief Executive Officer Nicholas K. Akins Nov. 10 at the 50th annual Edison Electric Institute Financial Conference in Hollywood, Florida.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to nearly 5.4 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning about 32,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a more than 40,000-mile network that comprises more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and about 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP’s utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP’s headquarters are in Columbus, Ohio.
American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers. The company generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric and other energy sources. It also supplies and markets electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities, and other market participants.