Key Takeaways
Toro Corp., a global energy transportation provider, announced its board of directors has approved a special dividend of $0.90 per common share.
The dividend announcement was made by the company's board of directors in a press release dated April 22, 2026.
The dividend is payable on June 5, 2026, to shareholders of record at the close of business on May 4, 2026. Shareholders have the option to receive the dividend in cash or in the company's common shares. The number of shares will be calculated based on a 20-day volume-weighted average price of $3.8821.
Shareholders must submit their election to receive shares by 5:00 p.m. Eastern Time on May 22, 2026. If no election is made, the dividend will be paid in cash. The move provides flexibility to shareholders and reflects the company's recent performance.
Toro Corp. operates a fleet that includes two LPG carriers and two MR tanker vessels. The company is incorporated in the Republic of the Marshall Islands and its shares trade on the Nasdaq Capital Market under the ticker TORO.
The special dividend signals a significant return of capital to the company's investors. Shareholders should monitor the election deadline of May 22, 2026, to ensure their preferred payment method is recorded.
This article is for informational purposes only and does not constitute investment advice.
