Toro Corp. Declares Special Dividend of $1.75 Per Share

Core Viewpoint - Toro Corp. has declared a one-time special dividend of $1.75 per common share, which can be received in cash or common shares, payable to shareholders of record on December 16, 2025, with an expected payment date of January 16, 2026 [1][2] Dividend Details - The special dividend represents more than 25% of the trading price of the Company's common shares, leading to the shares trading with "due bills" [1][5] - Shareholders wishing to receive the dividend in cash do not need to take any action, while those opting for common shares must base their election on the 20-day volume weighted average price (VWAP) of $3.8386 per share [3][4] - An information letter and election form will be sent to shareholders after the record date, and completed forms must be received by the transfer agent by January 5, 2026 [4] Due Bill Period - The due bill period runs from the record date of December 16, 2025, to the payment date of January 16, 2026, during which buyers of shares will be entitled to the dividend [5][6] - Sellers during this period will not receive the dividend, and buyers will not have the option to elect for shares if purchased during this time [6][7] Company Overview - Toro Corp. is a global energy transportation services provider with a fleet that includes two LPG carriers and two MR tanker vessels, transporting petrochemical gases and refined petroleum products worldwide [8]