SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Jun 5, 2017

2. SEC Identification Number

CS200900917

3. BIR Tax Identification No.

007-213-353-000

4. Exact name of issuer as specified in its charter

ITALPINAS DEVELOPMENT CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

Unit 9A 9/F Country Space Building I, 133 HV Dela Costa St. Salcedo Village Makati City Postal Code 1200

8. Issuer's telephone number, including area code

(+632) 893 03 28

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	221,618,800
Payable	110,254,125

11. Indicate the item numbers reported herein

Item No. 9 – Other Events

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Italpinas Development CorporationIDC

PSE Disclosure Form 6-2 - Declaration of Stock Dividends References: SRC Rule 17 (SEC Form 17-C) and
Sections 6 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Stock Dividend Declaration
Background/Description of the Disclosure
On April 27, 2017 and May 31, 2017, the Board of Directors and stockholders of Italpinas Development Corporation approved, respectively, the declaration of 45.1225257063029% stock dividends, subject to the approval by the Securities and Exchange Commission of the increase in authorized capital stock of the Corporation.

Type of Securities

• Common
• Preferred-
• Others-

Stock Dividend

Date of Approval by Board of Directors	Apr 27, 2017
Date of Approval by Stockholders	May 31, 2017
Other Relevant Regulatory Agency, if applicable	N/A
Date of Approval by Relevant Regulatory Agency, if applicable	N/A
Date of Approval by Securities and Exchange Commission	TBA
Stock Dividend Rate	45.1225257063029%

Source of Dividend Payment
From the unappropriated retained earnings as of December 31, 2016.

Source of Shares for Distribution	To be taken from the unissued capital stock Number of Shares to be Issued : - To be taken from an increase in authorized capital stock From: PHP177,993,600.00 To:PHP377,993,600.00 Number of Shares to be Issued : 100,000,000 Others: - Number of Shares to be Issued : -
Record Date	TBA
Payment Date	TBA

Other Relevant Information
Amending the report to include the expanded stock dividend rate to accurately arrive at the approved stock dividend issuance of up to 100,000,000 common shares.