Toro Corp. Declares Special Dividend of $0.90 Per Share
Rhea-AI Summary
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.
Positive
- Special dividend of $0.90 per common share declared
- Dividend payable June 5, 2026 to record holders as of May 4, 2026
- Share-or-cash election offers flexibility for shareholders
- 20-day VWAP established at $3.8821 per share for share elections
Negative
- Dividend is taxable to shareholders regardless of payment form
- Company may override elections and pay entirely in cash up to June 4, 2026
- Share issuance for elections based on VWAP may affect share count
News Market Reaction – TORO
In the Apr 22 session, TORO gained 72.76%, reflecting a significant positive market reaction. Argus tracked a peak move of +75.6% during that session. Our momentum scanner triggered 78 alerts that day, indicating high trading interest and price volatility. Trading volume was exceptionally heavy at 268.6x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LIMASSOL, Cyprus, April 22, 2026 (GLOBE NEWSWIRE) -- Toro Corp. (NASDAQ: TORO) (“Toro”, or the “Company”), a global energy transportation provider, today announced that the Company's board of directors has declared a one-time, special dividend of
The Company expects the dividend will be a taxable dividend to shareholders, regardless of whether received in the form of cash or common shares.
For shareholders that wish to receive the dividend all in cash, no further action is required. Alternatively, shareholders can elect to receive the dividend all in common shares. The number of common shares issued as a result of the dividend will be based on the 20-day volume weighted average price through April 21, 2026 (“20-day VWAP”) of the Company’s common shares, which the Company has determined is equal to
An information letter and election form will be mailed to shareholders of record after the record date. The properly completed election form must be received by Broadridge Corporate Issuer Solutions, LLC, the Company's transfer agent, prior to 5:00 p.m. Eastern Time on May 22, 2026. If the transfer agent does not receive a valid election form from a shareholder by that time, the dividend on such shareholder’s shares will be paid in cash. Registered shareholders with questions regarding the dividend election may call Broadridge Corporate Issuer Solutions, LLC at (888) 789-8409. Shareholders who hold their shares through a bank, broker or nominee and have questions regarding the dividend election should contact such bank, broker or nominee, who will also be responsible for distributing to them the information letter and election form and submitting the election form on their behalf.
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.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 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 those related to the anticipated completion and timing of the dividend. We are including this cautionary statement in connection with this safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “forecast”, “project”, “plan”, “potential”, “will”, “may”, “should”, “expect”, “pending” and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future and/or are beyond our control or precise estimate. Such risks, uncertainties and other factors include those factors discussed under “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2025 and our other filings with the SEC, which can be obtained free of charge on the SEC’s website at http://www.sec.gov. Except to the extent required by applicable law, we disclaim any intention or obligation to update publicly or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.
CONTACT DETAILS
For further information please contact:
Investor Relations
Toro Corp.
Email: ir@torocorp.com
