BioSyent Announces Adoption of Dividend Policy
MISSISSAUGA, Ontario, Aug. 23, 2022 (GLOBE NEWSWIRE) -- BioSyent Inc. (“BioSyent”, “the Company”, TSX Venture: RX) is pleased to announce that its Board of Directors (the “Board”) today adopted a Dividend Policy in order to establish terms of reference for the Board in its decision-making around the declaration of any dividends to be issued to shareholders of the Company.
“The adoption of a Dividend Policy by the Board is an important step in our evolution as a Company and a formal recognition of the confidence we have in our business with Q2 2022 marking BioSyent’s 12thconsecutive year of profitability” commented Mr. René Goehrum, Chairman of the Board of Directors of BioSyent. “Over those 12 years, we have grown our sales by more than 25 times, invested in and launched new products and continued to generate positive cash flows. As a result, our balance sheet today has never been stronger, even as we have deployed more than $13.5 million since December 2018 under our share buyback program, cancelling more than two million common shares to the benefit of all remaining shareholders. We remain focused on our primary strategic objective of revenue growth, and we will continue to invest in expanding our product portfolio while returning capital to shareholders. We anticipate initiating an inaugural dividend by the end of 2022.”
About BioSyent Inc.
Listed on the TSX Venture Exchange under the trading symbol “RX”, BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical and other healthcare products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, specialty and international business units.
As of the date of this press release, the Company has 12,213,111 common shares outstanding.
For a direct market quote for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.
For further information please contact:
Mr. René C. Goehrum
President and CEO
This press release may contain information or statements that are forward-looking. The contents herein represent our judgment, as at the release date, and are subject to risks and uncertainties that may cause actual results or outcomes to be materially different from the forward-looking information or statements. Potential risks may include, but are not limited to, those associated with clinical trials, product development, future revenue, operations, profitability and obtaining regulatory approvals.