Toro Corp. Announces Shareholder Election Results and Payment of Special Dividend
Rhea-AI Summary
Toro Corp (NASDAQ: TORO) announced shareholder election results and payment of a $1.75 per share special dividend declared Dec 5, 2025 and paid Jan 16, 2026 to holders of record as of Dec 16, 2025. Shareholders chose cash or common shares; the dividend was settled as approximately $9.3 million in cash and 7,378,575 common shares. The share-conversion ratio used a 20-day VWAP through Dec 4, 2025 of $3.8386 per share. Nasdaq advised shares traded with due bills from the record date through the close on Jan 16, 2026, the dividend payment date and last trading day before the Jan 20, 2026 ex-dividend date.
Positive
- Paid special dividend of $1.75 per share on Jan 16, 2026
- Settled elections with approximately $9.3M cash paid to shareholders
Negative
- Issued 7,378,575 common shares as part of the dividend, increasing share count
- Shares traded with due bills through Jan 16, 2026, adding timing complexity for holders and traders
News Market Reaction – TORO
On the day this news was published, TORO declined 1.97%, reflecting a mild negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $2M from the company's valuation, bringing the market cap to $117M at that time.
Data tracked by StockTitan Argus on the day of publication.
LIMASSOL, Cyprus, Jan. 16, 2026 (GLOBE NEWSWIRE) -- Toro Corp. (NASDAQ: TORO) (“Toro”, or the “Company”), a global energy transportation provider today announces the results of shareholder elections relating to its special dividend declared by its Board of Directors on December 5, 2025. The dividend of
As previously announced, Nasdaq advised the Company that its common shares would trade with due bills, representing an assignment of the right to receive the special dividend in cash, from the record date of December 16, 2025, through the closing of trading on Nasdaq on January 16, 2026, which was the Dividend Payment Date and the last day of trading before the January 20, 2026, ex-dividend date.
Based on shareholder elections, the dividend was paid in the form of approximately
If your shares are held through a bank, broker or nominee, and you have questions regarding the dividend, please contact such bank, broker or nominee. If you are a registered shareholder and you have questions regarding the dividend, you may call the election agent for the dividend, Broadridge Corporate Issuer Solutions, LLC, at (888) 789-8409.
About Toro Corp.
Toro Corp. is a global energy transportation services provider, operating a modern fleet of oceangoing vessels. The Company’s fleet comprises two LPG carriers and two MR tanker vessels, transporting petrochemical gases and refined petroleum products worldwide.
Toro is incorporated under the laws of the Republic of the Marshall Islands. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “TORO”.
For more information, please visit the Company’s website at www.torocorp.com. Information on our website does not constitute a part of this press release.
CONTACT DETAILS
For further information please contact:
Investor Relations
Toro Corp.
Email: ir@torocorp.com
FAQ
What did Toro (NASDAQ: TORO) pay for the special dividend on Jan 16, 2026?
How much cash did Toro (TORO) pay versus shares for the special dividend?
How was the share amount calculated for Toro's common share dividend election (TORO)?
Why did Toro (TORO) shares trade with due bills around the dividend period?
What are the key dates for Toro's (TORO) special dividend in January 2026?
Who should Toro (TORO) shareholders contact with questions about the dividend election?
