JAKARTA - PT Avia Avian Tbk (AVIA), a paint manufacturer, decides to allocate 92.9% of the 2022 net profit as dividend, amounting to IDR 1.3 trillion. The decision was made during the Annual General Shareholders Meeting held earlier today (13/4).

The dividend allocation was made referring to the 2022 net profit of IDR 1.4 trillion. Until December 2022, AVIA’s total assets were recorded at IDR 10.79 trillion, while its total equity clocked up to IDR 9.57 trillion. Said amount includes the interim dividend of IDR 619.5 billion, which were disbursed earlier on December 6, 2022.

The dividend pay-out ratio of AVIA is 92.9%, exceeding the general policy of the company that required the allocation of a minimum 50% of the net profit attributable to the parent company as cash dividend in the fiscal year 2022.

In 2022, this paint manufacturer booked IDR 6.69 trillion of revenue and total production of 170,986 metric tons (MT). The profit in 2022 declined from IDR 1.43 trillion seen in 2021. Nevertheless, it was stronger than IDR 1.13 trillion recorded in 2020. (LK/ZH)