Toro Corp. Declares Special Dividend of $1.75 Per Share
Rhea-AI Summary
Toro Corp. (NASDAQ: TORO) announced a one-time special dividend of $1.75 per common share, payable in cash or in common shares. Shareholders of record at the close of business on Dec 16, 2025 will receive the dividend expected to be paid on Jan 16, 2026. The share election will use the 20-day VWAP of $3.8386 through Dec 4, 2025 to determine share issuance. Nasdaq advised shares will trade with due bills during the due bill period because the dividend exceeds 25% of trading price. Elections must be received by Broadridge by 5:00 p.m. ET on Jan 5, 2026.
Positive
- Special dividend of $1.75 per share
- Shareholders can elect cash or common shares
- 20-day VWAP set at $3.8386 for share elections
- Record date is Dec 16, 2025; payment on Jan 16, 2026
Negative
- Dividend exceeds 25% of trading price; shares trade with due bills
- Dividend is expected to be taxable to shareholders
- Company may unilaterally pay cash up to Jan 15, 2026
News Market Reaction
On the day this news was published, TORO gained 39.76%, reflecting a significant positive market reaction. Argus tracked a peak move of +36.5% during that session. Our momentum scanner triggered 24 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $32M to the company's valuation, bringing the market cap to $114M at that time. Trading volume was exceptionally heavy at 265.4x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Marine shipping peers show mixed moves, with SHIP, DSX, SMHI and HTCO down (to as much as -3.25%) while GASS is up 5.48%, suggesting TORO’s setup is more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 05 | Special dividend | Positive | +39.8% | Declared one-time <b>$1.75</b> per share special dividend with cash/share option. |
| Dec 05 | Earnings update | Positive | +39.8% | Reported Q3 2025 net income growth and positive EBITDA from continuing ops. |
| Oct 15 | Redemption agreement | Positive | +2.4% | Agreed full redemption of 8.75% Series E preferred shares with Castor. |
| Oct 01 | Earnings & strategy | Positive | +33.8% | Q2 2025 profit with fleet changes, spin-off and vessel acquisitions. |
| Sep 16 | Vessel sale | Neutral | +0.5% | Announced sale of LPG carrier Dream Terrax to related-party affiliate. |
Recent news, including earnings, asset transactions, and capital actions, has often coincided with positive price reactions, sometimes very large.
Over the last six months, Toro issued several material updates, including asset sales, financial results and capital actions. Q2 and Q3 2025 earnings reports showed positive net income and strategic fleet moves, with price reactions of 33.76% and 39.76%. Corporate actions around Castor Maritime and vessel sales also saw modest to strong gains. The newly declared $1.75 special dividend fits a pattern where corporate and capital structure updates have been met with favorable market responses.
Market Pulse Summary
The stock surged +39.8% in the session following this news. A strong positive reaction aligns with Toro’s history of sizable moves on corporate events, as seen after prior earnings and strategic transactions with gains up to 39.76%. The clearly defined $1.75 special dividend, record and payment dates, and due-bill period offer concrete catalysts. However, investors have to weigh how one-time payouts, prior capital actions, and trading mechanics around the due-bill window might influence the durability of any sharp advance.
Key Terms
due bills regulatory
volume weighted average price financial
forward-looking statements regulatory
AI-generated analysis. Not financial advice.
LIMASSOL, Cyprus, Dec. 05, 2025 (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 December 4, 2025 (“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 January 5, 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. Any shareholder that purchases, and does not sell, common shares during the due bill period (as defined below) will be entitled to receive the dividend in cash, regardless of whether a valid election form was received by the Company’s transfer agent from the prior holder of those shares. 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.
Due Bills:
As the special dividend of
This means that holders who purchase these securities during the due bill period (even if the trades are to be settled after the due bill period) will be entitled to receive the special dividend in cash. Conversely, sellers who sell the securities during the due bill period (even if the trades are to be settled after the due bill period) will not be entitled to the special dividend. Holders of shares that are purchased during the due bill period will not be entitled to elect to receive the special dividend in common shares.
Due bills obligate a seller of securities to deliver the dividend payable on such securities to the buyer. The due-bill obligations are settled customarily between the brokers representing buyers and sellers of the securities. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers of the Company’s common shares should consult their brokers before trading to ensure they understand the effect of Nasdaq’s due-bill procedures.
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, but are not limited to, uncertainties related to the Company’s and its counterparty’s ability to consummate the transaction discussed herein, as well as those factors discussed under “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2024 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
FAQ
What is Toro Corp.'s special dividend amount and payment date (TORO)?
How can TORO shareholders receive the Dec 16, 2025 special dividend?
What is the deadline to elect shares for TORO's special dividend?
Why will TORO shares trade with due bills after Dec 16, 2025?
What price will determine TORO share issuance if shareholders elect stock instead of cash?
Can TORO change the dividend form after elections are submitted?
