Good News From Avian Paint Producer Owned By Conglomerate Hermanto Tanoko, They Will Distribute IDR 1.2 Trillion Dividend

JAKARTA - PT Avia Avian Tbk (AVIA), the issuer of this paint producer, agreed to distribute cash dividends to shareholders of IDR 1.2 trillion or around 83.3 percent of the net profit in 2021 which was recorded at IDR 1.4 trillion. This was decided at the Annual General Meeting of Shareholders (AGMS) held by AVIA in Surabaya, Friday, April 22.

AVIA President Director Wijono Tanoko said, "We are grateful that even though we are still in a pandemic, the company is still able to record a positive performance in 2021. As a form of the company's appreciation for the shareholders who always support AVIA's business growth, through today's AGMS the management has received approval to distribute dividends of IDR 1.2 trillion or IDR 20.55 per share from 2021 net income.

"The amount of cash dividends includes the previously distributed interim dividend of Rp700 billion to shareholders," said Wijono.

Currently, AVIA holds the largest decorative paint market share in Indonesia with a total market share of around 20 percent (according to Frost & Sullivan) so the company is optimistic that it will be able to continue its positive performance in 2022 in line with ongoing expansion steps.

One of them, AVIA continues to innovate to create new and quality products to answer the needs of a dynamic market so that it can continue to increase its market share. The latest breakthrough from AVIA is the launch of Avitex Anti Viruz wall paint which is claimed to be able to kill the Coronavirus and bacteria up to 99.9 percent.

For information, as of the first quarter of 2022, the company has 105 self-owned distribution centers and 34 third-party distribution centers. In total, these distribution centers serve more than 54,500 building material stores spread throughout Indonesia.

In addition, in pursuing growth in various business lines and operational aspects, the company continues to pay attention to strong capital so that it is able to accommodate future business development plans. For this reason, in December 2021, the company conducted an initial public offering of shares to the public and a limited offering to the shareholders of the company.

"It is hoped that with these efforts, and supported by consistent quality of products and services, we can maintain business continuity and continue performance growth of around 10-15 percent this year," concluded Wijono.