Toro Corp. Declares Dividend of $0.90 (NASDAQ:TORO)

Key Points

• Dividend: Toro declared a $0.90 per share dividend, with shareholders of record on May 4 and payment scheduled for June 5 (ex-dividend date May 4).
• Stock jump: Shares surged about 72.9%, trading up $2.85 to $6.76 on heavy volume (21.8M vs. a 353k average), lifting market cap to roughly $145.2M.
• Analyst sentiment: Coverage is negative—Weiss Ratings reissued a "sell (d)" and the stock's average rating on MarketBeat is "Sell."

Toro Corp. (NASDAQ:TORO - Get Free Report) declared a dividend on Wednesday, April 22nd. Shareholders of record on Monday, May 4th will be given a dividend of 0.90 per share on Friday, June 5th. The ex-dividend date of this dividend is Monday, May 4th.

Toro Stock Up 72.9%

Shares of TORO traded up $2.85 during trading hours on Wednesday, hitting $6.76. The company had a trading volume of 21,815,223 shares, compared to its average volume of 353,280. The firm has a market cap of $145.16 million, a price-to-earnings ratio of 84.51 and a beta of 1.21. The business has a fifty day moving average of $3.74 and a 200-day moving average of $4.19. Toro has a 12 month low of $1.77 and a 12 month high of $7.70.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Toro in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell".

Toro Company Profile

Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.

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