Toro Corp. Declares $0.90 Special Dividend Payable in Cash or Shares

The latest announcement is out from Toro Corp. ( (TORO) ).

On April 22, 2026, Toro Corp. announced that its board of directors declared a one-time special dividend of $0.90 per common share, payable in either cash or company stock to shareholders of record as of May 4, 2026. The dividend, expected to be distributed on June 5, 2026, signals a return of capital to investors and offers flexibility through a share election feature, while the company retains discretion to settle the payout entirely in cash if it chooses.

Shareholders who take no action will receive the special dividend in cash, whereas those wishing to receive all shares must submit an election form to the transfer agent by May 22, 2026. The number of shares issued will be based on a 20-day volume-weighted average price of $3.8821 per share through April 21, 2026, potentially affecting Toro’s share count and capital structure depending on investor preference for stock versus cash.

Spark’s Take on TORO Stock

According to Spark, TipRanks’ AI Analyst, TORO is a Neutral.

The score is held back mainly by weak and volatile cash generation in 2025 despite a very strong, debt-free balance sheet. Technicals are moderately constructive with the stock above major moving averages and positive momentum, while valuation looks relatively inexpensive based on the P/E.

To see Spark’s full report on TORO stock, click here.

More about Toro Corp.

Toro Corp. is a global energy transportation services provider operating a modern fleet of oceangoing vessels. The company’s fleet consists of two LPG carriers and two MR tankers that transport petrochemical gases and refined petroleum products worldwide, and its common shares trade on the Nasdaq Capital Market under the symbol TORO.

Average Trading Volume: 54,367

Technical Sentiment Signal: Buy

Current Market Cap: $114.8M

For a thorough assessment of TORO stock, go to TipRanks’ Stock Analysis page.