Toro Corp. reports developments for a global energy transportation business that owns, charters and operates oceangoing tankers and LPG carrier vessels. Company updates center on vessel revenues, net income and operating costs, as well as fleet adjustments involving MR tankers, LPG carriers and the completed spin-off of its Handysize tanker segment.
Recurring news also covers capital allocation and financing actions, including special dividends payable in cash or common shares, shareholder election results, revolving credit facilities secured by vessels and transactions involving Castor Maritime securities. These items frame Toro’s public updates around fleet composition, vessel-backed financing, shareholder distributions and related-party governance processes.
Toro Corp. (TORO) set October 1, 2026 as the record date for the proposed spin-off of its wholly owned LPG carrier subsidiary AI OKTO CORP., with the distribution of AI OKTO common shares expected on or about October 8, 2026.
Toro shareholders of record are expected to receive one AI OKTO share for every eight Toro common shares held at the close of business on the record date. The spin-off remains subject to the effectiveness of AI OKTO’s Form 20-F registration statement and approval of AI OKTO’s listing on the Nasdaq Capital Market. Toro common shares are expected to trade with due bills from the record date through the distribution date, so buyers during this period will receive, and sellers will forgo, the AI OKTO distribution tied to those shares.
Toro Corp (TORO) acquired two MR tanker vessels for $83.4 million, taking delivery on September 17 and 18, 2026.
Through two wholly owned subsidiaries, the company bought the M/T Wonder Alasia, a 2018 Japanese-built MR tanker, for $45.9 million and took delivery on September 17, 2026. It also acquired a 2014 Korean-built scrubber-fitted MR tanker for $37.5 million, delivered on September 18, 2026, which is expected to be renamed M/T Wonder Atria. Both vessels were purchased from unaffiliated third parties and the acquisitions were funded entirely with cash on hand.
Toro operates a modern fleet of oceangoing vessels, currently comprising four MR tanker vessels and two LPG carriers that transport refined petroleum products and petrochemical gases worldwide.
Toro Corp (TORO) held its 2026 Annual General Meeting of Shareholders on September 11, 2026, in Limassol, Cyprus.
Shareholders approved two proposals: the re-election of Mr. Petros Panagiotidis/b) as Class C Director to serve until the 2029 Annual General Meeting, and the appointment of as Toro’s independent auditors for the fiscal year 2026. Toro operates a modern fleet of two MR tanker vessels and two LPG carriers transporting refined petroleum products and petrochemical gases worldwide.
Toro Corp. (TORO) plans to spin off its LPG carrier business into a new Nasdaq-listed company, AI OKTO CORP., through a proposed distribution.
AI OKTO’s initial assets are expected to include two LPG carriers, LPG Dream Arrax and LPG Dream Vermax, and $45 million in cash contributed by Toro. Toro shareholders are expected to receive AI OKTO shares without paying consideration or exchanging Toro shares, while fractional shares will be sold and the net cash distributed pro rata. Toro’s Chairman and CEO, Petros Panagiotidis, will hold the same roles at AI OKTO. The spin-off is subject to SEC effectiveness of AI OKTO’s Form 20-F registration and Nasdaq Capital Market listing approval, and there is no assurance on completion, timing, or final terms.
Toro Corp. (NASDAQ: TORO) announced that its 2026 Annual General Meeting of Shareholders will be held on September 11, 2026 at 5:00 p.m. local time at 223 Christodoulou Chatzipavlou Street, Hawaii Royal Gardens, 3036 Limassol, Cyprus.
The Board set July 17, 2026 as the record date for shareholders entitled to receive notice and vote. According to Toro, the Notice of Meeting and Proxy Statement will be mailed on or around July 20, 2026, filed with the SEC at www.sec.gov, and made available on the company’s website, www.torocorp.com.
Toro Corp. (NASDAQ: TORO) reported the results of shareholder elections for its special dividend of $0.90 per common share, declared on April 22, 2026.
The dividend, payable in cash or common shares, was paid on June 5, 2026 to shareholders of record on May 4, 2026. Elections resulted in approximately $3.8 million in cash and 5,707,246 common shares being distributed, with the share portion calculated using a 20-day volume weighted average price of $3.8821 per share.
Toro Corp (NASDAQ: TORO) reported Q1 2026 net income of $0.5 million, down from $1.6 million in Q1 2025, on total vessel revenues of $6.0 million, up 9.1% year over year.
Q1 2026 EBITDA from continuing operations was $1.3 million; cash stood at $81.6 million. Toro highlighted a new up to $60 million revolving credit facility and special dividends of $1.75 and $0.90 per share.
Toro Corp. (NASDAQ: TORO) announced a one-time special dividend of $0.90 per common share, payable June 5, 2026 to shareholders of record on May 4, 2026. Shareholders may receive the dividend in cash or common shares based on a 20-day VWAP of $3.8821 through April 21, 2026.
The company said the dividend will be taxable regardless of form, shareholders can elect share payment by May 22, 2026, and the company may elect to pay entirely in cash up to June 4, 2026.
Toro Corp. (NASDAQ: TORO) filed its Annual Report on Form 20-F with the SEC for the fiscal year ended December 31, 2025. The Annual Report, which includes the company's financial statements, is available on the SEC website and on Toro's investor website.
Shareholders may request a free hard copy by mail to the Limassol address or via ir@torocorp.com. Toro operates a fleet of two LPG carriers and two MR tanker vessels and is incorporated in the Republic of the Marshall Islands.
Toro Corp. (NASDAQ: TORO) reported net income of $1.6M for Q4 2025 and $5.9M for FY2025, with continuing-operations net income of $1.4M (Q4) and $5.6M (FY).
Key items: cash totaled $87.4M at year-end, EBITDA from continuing operations was $6.0M for 2025, a one-time $1.75 per-share special dividend was paid Jan 16, 2026, and the Handysize spin-off to Robin completed Apr 14, 2025.