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 12th consecutive year of profitability” commented Mr. Ren 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.”