By Elias Schisgall

Toro shares climbed after the energy transportation company reported a higher profit in the third quarter and announced a special dividend of $1.75 a share.

Shares were up 37% to $5.64. The stock has risen nearly threefold in the past year.

The Cyprus-based company posted a profit Friday of $1.3 million compared with a profit of $975,000 a year earlier. On a per-share basis, the company reported a profit of one cent a share, compared with a loss of one cent a share, a year earlier.

Revenue for the quarter was $5.4 million, up from $5.3 million a year earlier. A jump in time charter revenue, which accounted for the entirety of the company's revenue, was offset by the lack of any pool revenue in the quarter. A year ago, Toro reported $3.9 million in time charter revenue and $1.4 million in pool revenue.

Toro's one-time, taxable dividend is expected to be paid on Jan. 16 to shareholders of record as of Dec. 16, the company said Friday.

Shareholders can elect to receive the dividend in cash or stock, based on a weighted average share price of roughly $3.84 a share.

Nasdaq has advised Toro that its shares will trade with due bills between Dec. 16 and Jan. 16 because the special dividend represents more than 25% of Toro's share price, the company said.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

December 05, 2025 10:59 ET (15:59 GMT)

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