Toro Corp. declared a one-time special dividend of $0.90 per share, payable in cash or common shares, with a record date of May 4, 2026 and expected payment on June 5, 2026.
Key takeaways
Toro Corp. declared a special dividend of $0.90 per share, payable in cash or common shares at shareholder election.
The dividend record date is May 4, 2026 with expected payment on June 5, 2026, and the company expects it to be taxable regardless of form.
Shareholders can elect to receive common shares based on a 20-day VWAP of $3.8821 per share through April 21, 2026, with market value at payment potentially differing.
The company reserves the right to pay the dividend entirely in cash up to June 4, 2026, regardless of shareholder elections.
Election forms must be received by Broadridge Corporate Issuer Solutions by 5:00 p.m. ET on May 22, 2026, or default payment will be in cash.