Toro Corp (NASDAQ: TORO) pays $0.90 special dividend in cash and shares
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
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.
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Key Figures
Special dividend per share: $0.90 per common share
Cash portion of dividend: $3.8 million
Share portion of dividend: 5,707,246 shares
+4 more
7 metrics
Special dividend per share
$0.90 per common share
Declared April 22, 2026; paid June 5, 2026
Cash portion of dividend
$3.8 million
Approximate cash distributed based on shareholder elections
Share portion of dividend
5,707,246 shares
Common stock issued to satisfy stock elections
VWAP used for stock dividend
$3.8821 per share
20-day volume weighted average through April 21, 2026
Dividend record date
May 4, 2026
Shareholders of record on this date received the dividend
Dividend payment date
June 5, 2026
Date cash and shares were distributed
Fleet size
4 vessels
Two LPG carriers and two MR tanker vessels
Key Terms
special dividend, volume weighted average, Nasdaq Stock Market, LPG carriers, +2 more
6 terms
special dividend financial
"announces the results of shareholder elections relating to its special dividend declared"
A special dividend is a one-time payment made by a company to its shareholders, usually when it has accumulated excess profits or cash. It is like a bonus or a reward for investors, often signaling that the company has extra funds available. This type of dividend matters because it can indicate a company's financial health or a significant change in its cash situation.
volume weighted average financial
"calculated based on the 20-day volume weighted average of the trading prices"
A volume weighted average is an average that gives more weight to values accompanied by larger quantities—so higher-volume trades or measurements pull the average closer to the prices where more activity happened. For investors, it reveals the price level that most trading actually supported, helping judge whether a trade or price move was driven by substantial participation or by a few small trades, much like averaging grades where final exams count more than short quizzes.
Nasdaq Stock Market financial
"trading prices of the Company's common shares on the Nasdaq Stock Market"
The Nasdaq Stock Market is a place where many companies' shares are bought and sold, functioning like a marketplace for investing in businesses. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping people grow their wealth or fund business growth. Known for hosting many technology and innovative companies, it is a key indicator of the health of those sectors.
LPG carriers financial
"The Company’s fleet comprises two LPG carriers and two MR tanker vessels"
LPG carriers are specialized ships built to safely carry liquefied petroleum gas — a mix of propane and butane — in pressurized or refrigerated tanks across oceans and coastal routes. For investors, they matter because they are the transport link between gas producers and buyers: fleet size, charter rates, supply disruptions, and safety records directly affect shipping companies’ revenues and the broader cost and availability of LPG, much like trucks do for road-delivered goods.
MR tanker vessels financial
"two LPG carriers and two MR tanker vessels, transporting petrochemical gases"
Investor Relations financial
"For further information please contact Investor Relations Toro Corp."
Investor relations is the communication process between a company and its current or potential investors. It involves sharing information about the company's performance, strategies, and outlook to help investors make informed decisions. Effective investor relations build trust and transparency, similar to a clear conversation between a business and someone considering investing, ensuring both parties understand each other's interests and expectations.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2026
Commission File Number: 001-41561
TORO CORP.
(Translation of registrant’s name into English)
223 Christodoulou Chatzipavlou Street, Hawaii Royal Gardens, 3036 Limassol, Cyprus
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
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Form 20-F ☒
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Form 40-F ☐
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INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this report on Form 6-K as Exhibit 99.1 is a
copy of the press release issued by Toro Corp. (the “Company”) on June 5, 2026, announcing the shareholder election results in relation to the special dividend announced on April 22, 2026.
The information contained in this report on Form 6-K and Exhibit 99.1 attached hereto are hereby incorporated by reference into the Company’s registration statements on Form F-3 (File Nos. 333-275477
and 333-275478) and Form S-8 (File No. 333-274652 and 333-290645).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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TORO CORP.
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Dated: June 5, 2026
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By:
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/s/ Petros Panagiotidis
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Petros Panagiotidis
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Chairman and Chief Executive Officer
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Exhibit 99.1
Toro Corp. Announces Shareholder Election Results and Payment of Special Dividend
Limassol, Cyprus, June 5, 2026 - 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 April 22, 2026. The dividend of $0.90 per common share consists of either cash or the Company’s common shares and was paid on June 5, 2026, to
shareholders of record as of May 4, 2026.
Based on shareholder elections, the dividend was paid in the form of approximately $3.8 million in cash and 5,707,246 shares of the Company’s common stock. The number of common shares included
for the common share dividend election was calculated based on the 20-day volume weighted average of the trading prices of the Company's common shares on the Nasdaq Stock Market through April 21, 2026, or $3.8821 per share.
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 special dividend did Toro Corp. (TORO) pay in June 2026?
Toro Corp. paid a special dividend of $0.90 per common share. Shareholders could elect to receive the dividend in cash or company stock, with the mix determined by individual elections recorded before the June 5, 2026 payment date.
When was Toro Corp.’s special dividend paid and what was the record date?
Toro Corp. paid the special dividend on June 5, 2026. Shareholders had to be on record as of May 4, 2026 to be eligible. Only investors holding TORO common shares on that record date received the special cash or stock distribution.
What business does Toro Corp. (TORO) operate and what is its fleet composition?
Toro Corp. is a global energy transportation services provider. It operates a modern oceangoing fleet consisting of two LPG carriers and two MR tanker vessels, transporting petrochemical gases and refined petroleum products worldwide under the laws of the Republic of the Marshall Islands.