Toro Corp Completes $1.75 Special Dividend Distribution in Cash and Stock
Limassol, Friday, 16 January 2026.
The energy transporter distributed $9.3 million in cash and 7.4 million shares today, executing a significant $1.75 per share special payout determined by shareholder elections.
Execution of Capital Return Strategy
Toro Corp. (NASDAQ: TORO) officially executed its capital return strategy today, January 16, 2026, distributing a special dividend valued at $1.75 per common share to investors of record as of December 16, 2025 [1][2]. Following the Board of Directors’ declaration on December 5, 2025, the Cyprus-based energy transportation provider finalized the payment process based on specific shareholder elections regarding the form of distribution [1]. The total payout was comprised of approximately $9.3 million in cash and the issuance of 7,378,575 new shares of the company’s common stock [1][2].
Valuation and Conversion Metrics
For the equity portion of the dividend, the conversion rate was determined by a specific valuation period prior to the declaration. The number of common shares distributed was calculated using a volume-weighted average price (VWAP) of $3.8386 per share, derived from trading activity on the Nasdaq Stock Market over the 20-day period concluding on December 4, 2025 [1][2]. This structured approach allowed the company to balance its cash reserves while providing significant value return to its equity holders.
Trading Mechanics and Market Adjustments
Investors navigating this event must account for specific trading protocols mandated by Nasdaq. Although the payment date is today, January 16, 2026, the company’s common shares have been trading with “due bills”—instruments representing the assignment of the right to the cash dividend—since the record date [1][2]. Consequently, the stock will not trade ex-dividend until the market opens on Tuesday, January 20, 2026 [2][3]. Market analysis suggests a significant price adjustment is imminent; forecasts indicate the stock price could open approximately 31.42% lower on the ex-dividend date to reflect the payout valuation [4].
Operational Profile and Governance
Toro Corp. operates within the global shipping sector, managing a fleet of four oceangoing vessels [2]. This fleet is diversified between two LPG carriers and two MR tanker vessels, which are deployed worldwide for the transportation of petrochemical gases and refined petroleum products [1]. While the company maintains its executive offices in Limassol, Cyprus, it is legally incorporated under the laws of the Republic of the Marshall Islands [1]. Shareholders requiring clarification on their specific dividend receipt are advised to contact the election agent, Broadridge Corporate Issuer Solutions, LLC, or their respective brokerage intermediaries [1][2].