Rubico Announces Stock Dividend of 0.50 Common Shares for Each Outstanding Common Share with a Record Date of September 28, 2026
Rubico will issue a 50% stock dividend and adjust its outstanding warrants, with key dates spanning late September to early October 2026.
Rhea-AI Summary
Rubico (RUBI) declared a stock dividend of 0.50 common shares for each common share outstanding, with a record date of September 28, 2026.
The dividend is expected to be distributed on or about October 5, 2026, with no fractional shares issued; any fraction will be settled in cash based on the Nasdaq Capital Market closing price on the Record Date. Due bill trading is expected, so buyers of shares through the Distribution Date will receive the dividend, and holders must keep their shares through that date. Following the dividend, warrant exercise prices will be reduced by 33.33% and the number of shares issuable on exercise will increase by 50%. Rubico’s shares are expected to begin trading on a stock dividend-adjusted basis on or about October 6, 2026.
Positive
- Stock dividend 0.50 shares per share for holders of record on September 28, 2026
- Warrant shares per warrant +50% immediately after the September 28, 2026 record date
- New MR tanker capacity via a share purchase agreement expected to close by September 30, 2026
Negative
- Common share count will increase due to the 0.50-for-1 stock dividend
- Warrant exercise price cut by 33.33%, increasing potential future dilution for common shareholders
Details
Market Reaction – RUBI
Following this news, RUBI has declined 2.87%, reflecting a moderate negative market reaction. Argus tracked a peak move of +35.2% during the session. Argus tracked a trough of -19.4% from its starting point during tracking. Our momentum scanner has triggered 23 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $1.43. Trading volume is exceptionally heavy at 135.4x the average, suggesting significant selling pressure.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
ATHENS, Greece, Sept. 17, 2026 (GLOBE NEWSWIRE) -- Rubico Inc. (Nasdaq: RUBI) (the “Company” or “Rubico”), a global provider of shipping transportation services specializing in the ownership of vessels, announced today that its board of directors has declared a stock dividend of 0.50 common shares for each common share outstanding. The stock dividend will be distributed on or about October 5, 2026 (the “Distribution Date”) to shareholders of record as of the close of business on September 28, 2026 (the “Record Date”). No fractional shares will be issued in connection with the stock dividend; any fractional shares resulting from the stock dividend will be paid in cash based on the closing price of the Company’s common shares on the Nasdaq Capital Market on the Record Date.
In addition, in accordance with the terms of the Company’s outstanding warrants, as a result of the stock dividend, immediately after the Record Date the exercise price of all of the Company’s warrants will be reduced by
As a result of “due bill” trading procedures expected to be established by Nasdaq, any purchasers of our common shares in the market through the Distribution Date for the stock dividend, expected to be October 5, 2026, will be entitled to receive the stock dividend, and holders of our common shares will need to hold their shares through and including the Distribution Date in order to receive the stock dividend.
The Company’s common shares are expected to begin trading on the Nasdaq Capital Market on a stock dividend-adjusted basis on or about October 6, 2026.
About the Company
Rubico Inc. is a global provider of shipping transportation services specializing in the ownership of vessels. The Company is an international owner and operator of two modern, fuel efficient, eco 157,000 dwt Suezmax tankers. Furthermore, the Company owns two 47,499 dwt MR tanker newbuildings scheduled for delivery in the third and fourth quarters of 2029 and a 60-meter newbuilding megayacht scheduled for delivery in the second quarter of 2027, which the Company intends to divest. In addition, the Company has entered into a share purchase agreement to acquire a shipowning company that owns one high-specification 47,499 dwt MR tanker newbuilding scheduled for delivery in the second quarter of 2029, with closing of this share purchase agreement to occur by September 30, 2026.
The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Athens, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “RUBI”.
Please visit the Company’s website at: https://rubicoinc.com/
For further information please contact:
Nikolaos Papastratis
Chief Financial Officer
Rubico Inc.
Tel: +30 210 812 8107
Email: npapastratis@rubicoinc.com
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including statements regarding the declaration and payment of the stock dividend and the adjustment of the terms of the Company’s outstanding warrants.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Please see the Company’s filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.
FAQ
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Who is eligible to receive Rubico’s stock dividend and when is it paid?
Shareholders of record as of the close of business on September 28, 2026 will receive 0.50 common shares for each common share they own. The stock dividend is expected to be distributed on or about October 5, 2026.
How does the stock dividend affect Rubico’s outstanding warrants?
Immediately after the Record Date, the exercise price of all Rubico warrants will be reduced by 33.33%, and the number of common shares issuable upon exercise of the warrants will be increased by 50%, in line with the warrant terms.
What are the due bill trading procedures and how do they affect investors?
Due bill trading procedures expected to be established by Nasdaq mean that purchasers of Rubico common shares in the market through the expected October 5, 2026 Distribution Date will be entitled to receive the stock dividend. Existing shareholders must hold their shares through and including the Distribution Date in order to receive the dividend.
What additional vessels does Rubico own or expect to acquire?
Rubico owns two modern, fuel efficient, eco 157,000 dwt Suezmax tankers, two 47,499 dwt MR tanker newbuildings scheduled for delivery in the third and fourth quarters of 2029, and a 60-meter newbuilding megayacht scheduled for delivery in the second quarter of 2027, which it intends to divest. It has also entered into a share purchase agreement to acquire a shipowning company that owns a high-specification 47,499 dwt MR tanker newbuilding scheduled for delivery in the second quarter of 2029, with closing expected by September 30, 2026.