Italpinas Development Corp., (IDC) said it is issuing a 35 percent stock dividends to shareholders as of Nov. 20, 2019.
Payment date is on Dec. 16, 2019.
“Our net profit has been doubling in the last years. Our target is to continue achieving steady and well considered growth every year. We want to expand in other locations and consider broadening our scope in real estate products offered, according to opportunities presented in delivering our unique development philosophy with key markets,” said
Romolo Nati, IDC chairman.
This is the second time in less than five years IDC is declaring stock dividends.
Nati said IDC gave 45 percent stock dividends in 2017 and 35 percent stock dividends this year.
The company is looking to expand in new areas in the country, and is also considering horizontal property development
