Welcome to our dedicated page for TORO SEC filings (Ticker: TORO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Toro Corp. filings document a foreign issuer engaged in seaborne energy transportation through tanker and LPG carrier vessels. Its Form 20-F annual report covers financial statements, while Form 6-K reports furnish operating results, vessel revenues, fleet ownership days, voyage expenses, management fees and other current disclosures incorporated into registration statements.
The filing record also documents common-share distributions with cash or stock election mechanics, shareholder notices and dividend election forms, vessel-secured revolving credit facilities, at-the-market offering arrangements under Form F-3 registration statements, and S-8 registration references. Governance-related disclosures include special committee review of related-party transactions involving Castor Maritime securities and capital-structure matters tied to common shares.
Toro Corp. has scheduled its 2026 Annual General Meeting of Shareholders for 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 determining shareholders entitled to receive notice and vote.
As of the record date, Toro had 34,559,330 Common Shares and 40,000 Series B Preferred Shares outstanding. Each Common Share carries 1 vote, and each Series B Preferred Share carries 100,000 votes, with both series voting together as a single class. Shareholders will vote on electing founder and CEO Petros Panagiotidis as Class C director to serve until the 2029 annual meeting, and on ratifying Deloitte Certified Public Accountants S.A. as independent auditors for the fiscal year ending December 31, 2026. A plurality of votes cast is required for the director election, and a majority of votes cast is required for auditor ratification. Any signed proxy returned without instructions will be voted in favor of all proposals.
Toro Corp. shareholder Pani Corp., controlled by Petros Panagiotis Panagiotidis, reports beneficial ownership of 25,649,485 common shares, representing 74.2% of the company’s outstanding shares. This reflects common shares acquired through private placements, open-market purchases, restricted stock grants and prior special dividends.
The filing highlights a one-time Special Dividend of $0.90 per share, where Pani Corp. elected to receive stock and was issued 4,827,279 shares on June 5, 2026, based on a 20‑day volume‑weighted average price of $3.8821. Total shares outstanding used for this ownership calculation were 34,559,330.
Toro Corp. director and Chief Executive Officer Panagiotidis Petros Panagiotis, through Pani Corp., received 4,827,279 shares of Common Stock as a payment-in-kind dividend. This dividend was paid on 20,822,206 shares of Common Stock held on the dividend record date.
After this non-market transaction, indirect holdings through Pani Corp. total 25,649,485 Common Stock shares. The price of 3.8821 per share represents the amount foregone in exchange for each share received as a dividend. The CEO disclaims beneficial ownership beyond any pecuniary interest.
Toro Corp. reported that it has paid its previously declared special dividend of $0.90 per common share, offering shareholders a choice of cash or stock. Based on elections, the company distributed approximately $3.8 million in cash and 5,707,246 common shares.
The stock portion was calculated using a 20-day volume weighted average price of $3.8821 per share through April 21, 2026. The dividend was paid on June 5, 2026 to shareholders of record as of May 4, 2026.
Toro Corp reported net income from continuing operations of $529,409 for the three months ended March 31, 2026, down from $1,482,736 a year earlier, and a net loss attributable to common shareholders of $633,718 versus prior net income of $463,967.
Total vessel revenues from continuing operations rose to $5,963,021 from $5,538,912, and EBITDA increased to $1,315,311 from $955,627, helped by a higher Daily TCE Rate of $15,531 and 100% fleet utilization, despite fewer ownership days.
Cash and cash equivalents were $81.6M at March 31, 2026, down from $87.4M, mainly after a $9.3M special dividend paid on January 16, 2026. The company also entered into a new revolving credit facility of up to $60.0M, drawing $15.0M, and declared an additional special dividend of $0.90 per common share payable June 5, 2026.
Toro Corp. is moving forward with a previously declared special dividend of $0.90 per common share for shareholders of record as of May 4, 2026. The dividend is expected to be paid on June 5, 2026.
Shareholders can choose to receive the dividend entirely in cash or entirely in Toro common shares, with any fractional share paid in cash. For those electing shares, the company has set a share value of $3.8821, based on the 20-day volume weighted average price through April 21, 2026. Registered shareholders must submit an election form to Broadridge by 5:00 p.m. Eastern time on May 22, 2026, otherwise the dividend will be paid in cash.
Toro retains the right, in its sole discretion, to pay the dividend entirely in cash at any time up to midnight on June 4, 2026, even if shareholders elected stock, and without prior notice. The filing also outlines U.S. federal income tax considerations for U.S. and non-U.S. shareholders.
Pani Corp. and Petros Panagiotis Panagiotidis filed Amendment No. 5 to update their ownership in Toro Corp. They may be deemed beneficial owners of 20,822,206 common shares, representing approximately 72.2% of Toro’s 28,852,084 shares outstanding.
The update reflects Pani Corp.’s open-market purchase of 2,315,971 shares from April 22–24, 2026 for a total of $14,254,600.60, funded by cash ultimately from Mr. Panagiotidis’s personal funds. Their holdings also include several tranches of restricted shares and 5,794,995 shares received via a special dividend, while an affiliated entity holds 40,000 Series B preferred shares, each carrying the voting power of 100,000 common shares.
Toro Corp. director and Chief Executive Officer Panagiotidis Petros Panagiotis reported a series of indirect open-market purchases of the company’s common stock through Pani Corp., an entity he controls. Across four transactions on April 22–24, 2026, Pani Corp. bought a total of 2,315,971 shares at weighted average prices ranging from about $4.73 to $6.79 per share. Following the most recent purchase, indirect holdings reported through Pani Corp. stood at 20,822,206 common shares, with beneficial ownership disclaimed except to the extent of any pecuniary interest.
Toro Corp. declared a one-time special dividend of $0.90 per common share, payable in either cash or Toro common shares. Shareholders of record at the close of business on May 4, 2026 are eligible, and payment is expected on June 5, 2026.
Shareholders can keep the default all-cash dividend or elect to receive all shares, using a form due by May 22, 2026. The stock portion is valued using a 20-day volume weighted average price of $3.8821 per share through April 21, 2026. Toro may still decide to pay the entire dividend in cash up to the day before payment.
Toro Corp. files its annual Form 20-F, outlining its LPG and product tanker operations and extensive risk factors. As of December 31, 2025, it had 21,473,509 common shares outstanding. The report highlights exposure to volatile charter rates, fuel prices, geopolitical conflicts, sanctions, inflation, cyber risk and tightening environmental and decarbonization rules.