Toro Corp. Announces Shareholder Election Results and Payment of Special Dividend
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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
Original sourceAI Summary
Toro Corp. has successfully executed a special dividend of $1.75 per share, comprising $9.3 million in cash and approximately 7.4 million shares. Paid on January 16, 2026, this payout indicates strong shareholder engagement and confidence, likely enhancing investor sentiment and market interest in TORO.
Sentiment Rationale
The announcement of a special dividend typically signals financial health and a commitment to share value enhancement. Historical examples show dividend announcements can lead to immediate positive stock price movements due to increased investor confidence.
Trading Thesis
Investors may consider buying TORO, anticipating positive market response post-dividend payout.
Market-Moving
- The special dividend strengthens shareholder confidence, potentially driving stock demand.
- Increased share issuance could dilute existing shares, impacting stock price negatively.
- Trading with due bills may fluctuate stock price until the ex-dividend date.
- The cash payout signals financial stability, attracting institutional investors.
Key Facts
- Toro declares a special dividend of $1.75 per share.
- Dividend paid on January 16, 2026, to shareholders of record from December 16, 2025.
- Dividend consists of $9.3 million cash and 7.3 million shares.
- Common share dividend calculated based on a 20-day average price of $3.8386.
- Shares traded with due bills reflecting dividend rights until January 16, 2026.
Companies Mentioned
- Toro Corp. (TORO): The company is enhancing shareholder value with dividends.
Corporate Developments
This news fits into the 'Corporate Developments' category as it highlights an essential financial decision aimed at returning capital to shareholders, which is crucial for maintaining investor confidence and interest.
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 $1.75 per common share consists of either cash or the Company's common shares and was paid on January 16, 2026, to shareholders of record as of December 16, 2025.
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 $9.3 million in cash and 7,378,575 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 December 4, 2025, or $3.8386 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
