The Board of Directors of the Human Stem Cell Institute (HSCI, MOEX: ISKJ) approved the company’s new dividend policy at a meeting on July 11, 2023.
The new dividend policy regulation describes the procedure for distributing profits based on the optimal balance between the interests of the company and its shareholders in generating profits and the need to increase the company’s investment attractiveness, increasing its capitalization by long-term investments. It is planned to allocate 40% to 60% of the net profits to pay dividends.
Previously, the HSCI AGM decided to pay dividends for 2022 in the amount of RUB 1 per ordinary share.
In the 3rd quarter of 2023, HSCI will change its corporate identity and will be renamed Artgen Biotech. The changes will be made to make the company’s activities, strategy, and values clearer to a wide range of investors and the public.
HSCI is a biotechnology company with a portfolio of innovative platform developments to implement in medical practice. It is a strategic investor in industries that improve the efficiency and quality of medical care. HSCI is developing an internal ecosystem to accelerate the group’s biotech companies and commercialize their developments.
HSCI was founded in 2003. Since 2009, it has been an issuer at the Moscow Exchange Innovation and Investment Market. The HSCI group includes companies at different development stages, from seed to early growth and maturity.