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Toro Corp. Announces Shareholder Election Results and Payment of Special Dividend
Globenewswire· 2026-01-16 21:29
Core Viewpoint - Toro Corp. has announced the results of shareholder elections regarding a special dividend of $1.75 per common share, which was paid on January 16, 2026, to shareholders of record as of December 16, 2025 [1][2]. Dividend Details - The special dividend was paid in the form of approximately $9.3 million in cash and 7,378,575 shares of the Company's common stock [3]. - The number of common shares for the dividend election was based on a 20-day volume weighted average trading price of $3.8386 per share [3]. 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 [5]. - The Company is incorporated under the laws of the Republic of the Marshall Islands and trades on the Nasdaq Capital Market under the symbol "TORO" [5].
Is Ultra-High-Yield Enterprise Products Partners Your Ticket to Becoming a Millionaire?
The Motley Fool· 2026-01-11 16:45
Core Viewpoint - Enterprise Products Partners offers a substantial yield of 6.8%, significantly higher than the S&P 500 average of 1.1%, but its potential to create millionaire-making investments is complex [1]. Company Overview - Enterprise Products Partners operates in the midstream segment of the energy sector, focusing on the transportation of oil, natural gas, and related products globally [2]. - The company charges fees for the use of its energy infrastructure, making the volume of commodities transported more critical than their price [2]. Financial Performance - Despite fluctuations in commodity prices, demand for energy remains stable, allowing Enterprise to generate reliable cash flows that support its large distribution [3]. - Over the past 12 months, the company's distributable cash flow covered its distribution by 1.7 times, indicating a strong buffer against potential challenges [3]. - Enterprise maintains an investment-grade-rated balance sheet, providing additional security to navigate short-term challenges without cutting distributions [4]. Distribution History - The company has successfully expanded its distribution for 27 consecutive years, even during significant downturns in the energy sector, such as the Great Recession and the COVID-19 pandemic [4]. Investment Returns - Since its IPO in 1998, Enterprise has delivered a total return of 3,470%, compared to approximately 890% for the S&P 500 [6]. - The unit price of Enterprise has increased by 490% since its IPO, which is comparable to the S&P 500's price-only gain of 510% [7]. - The reinvestment of distributions plays a crucial role in total returns, with most of the return coming from reinvested distributions rather than price appreciation [9]. Investment Strategy - For income-focused investors, Enterprise can provide substantial and reliable distributions, potentially leading to significant portfolio growth over time [11]. - However, if distributions are spent rather than reinvested, achieving millionaire status may take longer [11]. - The stock is likely to offer slow and steady capital appreciation, making it less appealing to investors focused solely on growth [10].
Robin Energy Announces Reverse Stock Split to be Effective December 24, 2025
Globenewswire· 2025-12-22 14:00
Core Viewpoint - Robin Energy Ltd. has announced a one-for-five reverse stock split of its common shares, aimed at reducing the number of outstanding shares and potentially increasing the share price [1][3]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 11:59 pm Eastern Time on December 23, 2025, with trading on a split-adjusted basis starting on December 24, 2025 [2]. - The number of outstanding common shares will decrease from approximately 14.0 million to approximately 2.8 million as a result of the reverse stock split [3]. - No fractional shares will be issued; stockholders entitled to a fraction will receive a cash payment based on the closing price of the shares on December 23, 2025 [4]. Group 2: Shareholder Information - Stockholders with shares held in book-entry form or through a bank, broker, or other nominee will not need to take any action, as the effects of the reverse stock split will be reflected in their accounts after December 24, 2025 [5]. - The reverse stock split ratio has been approved by the board of directors and is within the range authorized by the stockholders [6]. Group 3: Company Overview - Robin Energy Ltd. is an international ship-owning company that provides energy transportation services globally, operating a fleet that includes two LPG carriers and one Handysize tanker vessel [7].
Robin Energy Announces Share Buyback Program
Globenewswire· 2025-12-16 14:00
Core Viewpoint - Robin Energy Ltd. has announced a share repurchase program, allowing the company to buy back up to $1.0 million of its common shares, reflecting confidence in its financial position and market conditions [1][2]. Company Overview - Robin Energy Ltd. is an international ship-owning company that provides energy transportation services globally, operating a fleet that includes two LPG carriers and one Handysize tanker vessel [4]. Share Repurchase Program Details - The share repurchase may occur in open market or privately negotiated transactions, with the timing and price at the company's discretion, influenced by market conditions and other factors [2]. - As of December 16, 2025, the company had 14,028,731 common shares issued and outstanding [3].
Robin Energy Provides Commercial Update
Globenewswire· 2025-12-04 14:00
Core Viewpoint - Robin Energy Ltd. provides a commercial update on its vessel employment across LPG and tanker segments, highlighting strong charter contracts and improved market conditions for its fleet [1]. LPG Segment - The M/T Dream Terrax, a 2020-built LPG carrier, is under a time charter at a gross monthly rate of $345,000 until February 2026, increasing to $353,000 until January 2027, ensuring steady cash flow for 2026 [2]. - The M/T Dream Syrax, a 2015-built LPG carrier, operates under a time charter at a gross monthly rate of $353,000 until March 2026, contributing to contracted revenue exceeding $5.5 million, covering 59% of ownership days for 2026 [3]. Tanker Segment - The M/T Wonder Mimosa, a 2006-built Handysize tanker, has shown strong performance in a commercial pool, with a gross daily rate of $19,442 in November 2025, a 19% increase from October [4]. - The gross daily rates for the tanker segment have shown a positive trend: $14,871 in September 2025, $16,349 in October 2025, and $19,442 in November 2025, indicating the company's ability to leverage favorable market conditions [5]. Company Overview - Robin Energy Ltd. is an international ship-owning company specializing in energy transportation services, operating a fleet of two LPG carriers and one Handysize tanker [6].
TEN, Ltd. Reports Profits for the Nine Months and Third Quarter Ended September 30, 2025 and Declares Common Share Dividend of $1
Globenewswire· 2025-11-20 13:30
Core Insights - TEN, Ltd reported gross revenues of $577 million and net income of $103 million for the first nine months of 2025, translating to $2.75 per share [2][3] - The company declared a dividend of $1.00 per common share, following a previous payment of $0.60 in July 2025 [2][12] - Fleet utilization improved to 96.2% in the first nine months of 2025, up from 92.2% in the same period of 2024, driven by better fleet employment [4][28] Financial Performance - Gross revenues for Q3 2025 reached $186.2 million, with operating income of $60.5 million after accounting for gains from vessel sales [7][27] - Net income for Q3 2025 increased to $38.3 million, or $1.05 per share, compared to $26.5 million and $0.67 per share in Q3 2024 [7][27] - Adjusted EBITDA for the first nine months of 2025 was $289 million, while Q3 2025 adjusted EBITDA stood at $95.6 million [3][8] Operational Metrics - Average Time Charter Equivalent (TCE) per vessel per day was $30,703 for the first nine months of 2025, with Q3 2025 TCE at $30,601 [4][8] - Total operating expenses per vessel per day were $9,797 for the first nine months of 2025, and $9,904 for Q3 2025 [4][8] - The fleet's average age at the end of the period was 10.1 years, with a total of 62 vessels in operation [28][20] Corporate Strategy and Developments - TEN is pursuing long-term contracts with oil majors, capitalizing on rising global oil demand and geopolitical tensions that have strengthened freight rates [14][15] - The company has a newbuilding program with 20 vessels under construction, including three VLCCs, to enhance its fleet [2][16] - Recent deliveries include the eco scrubber suezmax tanker Silia T, which entered a minimum three-year employment contract with a major US oil company [10][11] Cash Position and Debt - As of September 30, 2025, TEN's cash position was $264.3 million, following significant principal payments and capitalized expenses [6][28] - Total debt obligations at the end of the nine-month period were $1.9 billion, with interest and finance costs reduced by $15 million compared to the previous year [5][28]
Robin Energy Ltd. Announces Availability of its Financial Results for the Three and Nine Months ended September 30, 2025
Globenewswire· 2025-11-13 14:25
Core Viewpoint - Robin Energy Ltd. has filed its financial results for the three and nine months ended September 30, 2025, with the U.S. Securities and Exchange Commission, indicating ongoing transparency and compliance with regulatory requirements [1]. Company Overview - Robin Energy Ltd. is an international ship-owning company that provides energy transportation services globally [2]. - The company's fleet includes two LPG carriers and one Handysize tanker vessel, which transport petrochemical gases and refined petroleum products worldwide [2].
Robin Energy Ltd. Announces Pricing of $7.0 Million Registered Direct Offering
Globenewswire· 2025-10-24 13:00
Core Viewpoint - Robin Energy Ltd. has announced a securities purchase agreement to raise approximately $7.0 million through the sale of 6,540,000 common shares at an offering price of $1.07 per share [1][2]. Group 1: Offering Details - The offering is being conducted with a single institutional investor and is expected to close on or about October 27, 2025, pending customary closing conditions [2]. - Maxim Group LLC is acting as the sole placement agent for the offering [2]. - The proceeds from the offering will be used for working capital and general corporate purposes [2]. Group 2: Regulatory Information - The offering is made pursuant to an effective shelf registration statement on Form F-3, which was declared effective by the U.S. Securities and Exchange Commission on April 28, 2025 [3]. - A prospectus supplement related to the securities will be filed with the SEC, and copies will be available on the SEC's website [3]. Group 3: Company Overview - Robin Energy Ltd. is an international ship-owning company that provides energy transportation services globally, operating a fleet that includes two LPG carriers and one Handysize tanker vessel [5].
Robin Energy Ltd. Reports Net Income of $0.5 Million for the Three Months Ended June 30, 2025 and $0.4 Million for the Six Months Ended June 30, 2025
Globenewswire· 2025-10-01 13:00
Core Insights - Robin Energy Ltd. reported its financial results for the second quarter and the first half of 2025, highlighting significant growth in revenues and net income compared to the same periods in 2024 [1][2][4]. Financial Performance - Total vessel revenues for Q2 2025 reached $2.0 million, a 33.3% increase from $1.5 million in Q2 2024 [6]. - Net income for Q2 2025 was $0.5 million, reflecting a 150.0% increase from $0.2 million in Q2 2024 [6]. - Earnings per common share for Q2 2025 were $0.15, up from $0.08 in Q2 2024 [6]. - EBITDA for Q2 2025 was $0.7 million, compared to $0.4 million in Q2 2024 [6]. - For the first half of 2025, total vessel revenues were $3.6 million, down from $4.0 million in the same period of 2024 [6]. - Net income for the first half of 2025 was $0.4 million, down from $1.4 million in the first half of 2024 [6]. - Earnings per common share for the first half of 2025 were $0.13, compared to $0.57 in the first half of 2024 [6]. - EBITDA for the first half of 2025 was $1.0 million, down from $1.9 million in the first half of 2024 [6]. Operational Highlights - The company operated an average of 1.0 vessel in Q2 2025, with a Daily TCE Rate of $20,054, compared to $21,964 in Q2 2024 [24][30]. - Available Days for the tanker vessel increased to 91 days in Q2 2025 from 65 days in Q2 2024, contributing to the revenue growth [5][30]. - The company maintained a debt-free balance sheet and had cash reserves of $39.4 million as of June 30, 2025, a significant increase from $0.01 million at the end of 2024 [6][19]. Strategic Developments - The company completed a spin-off from Toro Corp. on April 14, 2025, and began trading on Nasdaq under the symbol "RBNE" on April 15, 2025 [6][12]. - Management adopted a Bitcoin treasury strategy, allocating $5 million to Bitcoin as a primary treasury reserve asset [20]. - The company acquired two LPG vessels, effectively tripling its fleet size [4][21][22]. Recent Equity Offerings - In June 2025, the company completed four registered direct equity offerings, raising approximately $17.2 million by issuing 3.6 million common shares [6][13][14][15][16]. - On September 12, 2025, the company conducted a public offering, raising approximately $8.6 million [17].
Robin Energy Announces Closing of $8.6 Million Public Offering of Common Stock
Globenewswire· 2025-09-15 13:00
Group 1 - Robin Energy Ltd. announced the closing of its underwritten public offering of 5,769,230 shares at a price of $1.30 per share, raising approximately $8.6 million in gross proceeds [1][2] - The underwriter, Maxim Group LLC, partially exercised its overallotment option, purchasing an additional 864,770 shares for about $1.1 million in gross proceeds [1][2] - The net proceeds from the offering will be used for working capital and general corporate purposes [2] Group 2 - The offering was conducted under an effective shelf registration statement filed with the SEC on April 24, 2025, and declared effective on April 28, 2025 [3] - A final prospectus supplement and accompanying prospectus have been filed with the SEC and are available on their website [3] Group 3 - Robin Energy is an international ship-owning company that provides energy transportation services globally, owning one Handysize tanker and one LPG carrier [5]