BioSyent Announces Adoption of Dividend Policy
August 23 2022 - 4:55PM
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 12th consecutive 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. GoehrumPresident and CEOBioSyent
Inc.E-Mail: investors@biosyent.comPhone: 905-206-0013Web:
www.biosyent.com
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.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
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