Toro Corp (NASDAQ:TORO) shares are up during Friday’s premarket session following the announcement of a special dividend of 90 cents per share.
This news has contributed to the stock’s positive momentum as investors react favorably to the company’s decision to reward shareholders.
What Happened?
Toro Corp. declared a one-time special dividend of 90 cents per common share, payable to shareholders of record by May 4, 2026, with a payment date set for June 5, 2026.
The company declared a one-time special dividend of $1.75 per share on Dec. 5, 2025, paid to shareholders of record as of Dec. 16. The dividend was paid Jan. 16, 2026, totaling about $9.3 million in cash and 7.38 million shares of common stock.
Technical Analysis
Toro is currently trading significantly above its 20-day simple moving average (SMA) by 64.2%, suggesting strong short-term bullish momentum. The stock is also 75% above its 50-day SMA, indicating a robust intermediate trend, while it is 56.2% above its 100-day SMA, reinforcing the overall positive sentiment.
The relative strength index (RSI) is at 87.29, which is considered overbought, suggesting that …
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