Toro Corp. board declares one-time special dividend of $1.75 per share

Toro Corp. (TORO) board of directors has declared a one-time, special dividend of $1.75 per common share, consisting of either cash or the Company’s common shares. The dividend is payable to the Company’s shareholders of record at the close of business on December 16, 2025 and is expected to be paid on January 16, 2026. Given that the payment of the special dividend represents more than 25% of the trading price of the Company’s common shares, Nasdaq has advised the Company that its common shares will trade with “due bills”. The Company expects the dividend will be a taxable dividend to shareholders, regardless of whether received in the form of cash or common shares.