Highest-materiality recent filing
Toro announces CEO succession: Edric Funk to become President and CEO effective Nov 1, 2026
Edric C. Funk elected President and CEO, effective Nov 1, 2026; also elected to Board immediately.
Toro completes CAD $279M acquisition of Tornado; authorizes new 6M share buyback
Acquired Tornado Infrastructure Equipment (TSX-V: TGH) for CAD $1.92/share, total equity value $279M CAD.
Toro completes $279M CAD acquisition of Tornado; authorizes new 6M share buyback
Completed acquisition of Tornado Infrastructure Equipment Ltd. for CAD $1.92/share, total equity value $279M CAD.
Toro agrees to acquire Tornado Infrastructure for CAD $279M ($1.92/share)
Total fully diluted equity value of CAD $279 million; CAD $1.92 per share.
Toro authorizes new 4M-share repurchase program; total authorization 8.17M shares
Board authorized a new stock repurchase program of up to 4,000,000 additional shares on December 10, 2024.
Toro enters $1.1B credit agreement: $200M term loan funded, $900M revolver
Five-year unsecured facilities: $200M term loan (fully funded Oct 2, 2024) and $900M revolving credit facility.
Toro CFO Renee Peterson to retire in July 2023; Angela Drake named successor effective March 10
Renee J. Peterson, VP & CFO for 11+ years, plans to retire in July 2023; Angela C. Drake appointed VP & CFO effective March 10, 2023.
Toro increases quarterly dividend 13% to $0.34, authorizes 5M share repurchase
Regular quarterly cash dividend raised to $0.34 per share, up 13% from $0.30.
Toro enters $200M term loan to refinance acquisition debt
$200M unsecured term loan credit agreement dated April 27, 2022.
Toro acquires Intimidator Group (Spartan Mowers) for $400M
Purchase price $400M paid from cash on hand and short-term borrowings under revolving credit facility.
On December 12, 2023, the Board of Directors (the “Board”) of The Toro Company (“TTC”) increased the number of directors constituting the Board from nine to ten and elected Dianne C. Craig to the Board and to the Audit Committee and Finance Committee of the Board, effective January 1, 2024.
On May 22, 2023, Jeffrey M. Ettinger, a director of The Toro Company (“TTC”), notified TTC of his resignation as a member of the Board of Directors (the “Board”), effective as of May 23, 2023.
On May 15, 2023, Michael G. Vale, a director of The Toro Company (“TTC”), resigned as a member of the Board of Directors of TTC, effective immediately.
Also on February 13, 2023, the Board of Directors of TTC promoted Angela C. Drake, age 50, to Vice President, Chief Financial Officer, effective as of March 10, 2023, to succeed Ms. Peterson and serve as TTC’s principal financial officer and principal accounting officer.
After more than 11 years of service to The Toro Company (“TTC”), Renee J. Peterson, Vice President, Chief Financial Officer, notified TTC on February 13, 2023, of her decision to retire in July 2023.
On January 23, 2023, Richard W. Rodier, Group Vice President, Construction Businesses, notified The Toro Company (“TTC”) of his decision to retire, effective April 7, 2023, after more than 35 years of service to TTC.
On September 20, 2022, Bradley A. Hamilton, Group Vice President, Commercial, International, Ventrac and Irrigation Businesses, notified The Toro Company (“TTC”) of his decision to retire, effective November 1, 2022, after more than 34 years of service to TTC.
Max materiality 0.75 · Median 0.40 · Most common event earnings