CADIZ INC. DECLARES QUARTERLY DIVIDEND FOR Q1 2023 ON SERIES A CUMULATIVE PERPETUAL PREFERRED STOCK

Rhea-AI Summary

Cadiz, Inc. (NASDAQ: CDZI, CDZIP) announced a cash dividend for its 8.875% Series A Cumulative Perpetual Preferred Stock. Holders will receive a cash dividend of $550.00 per whole share or approximately $0.55 per depositary share. This dividend will be paid on April 14, 2023, to shareholders on record as of April 4, 2023. The announcement reflects Cadiz's ongoing commitment to providing clean and affordable water solutions in California.

Positive

• Dividend of $550.00 per whole share reflects company stability.
• Commitment to shareholder returns with consistent cash dividends.

Negative

• None.

LOS ANGELES, March 24, 2023 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI/CDZIP) ("Cadiz", the "Company") today announced that its Board of Directors has declared the following cash dividend on Cadiz's 8.875% Series A Cumulative Perpetual Preferred Stock (the "Series A Preferred Stock").

Holders of Series A Preferred Stock will receive a cash dividend equal to $550.00 per whole share.

Holders of depositary shares, each representing a 1/1000 fractional interest in a share of Series A Preferred Stock (Nasdaq: CDZIP), will receive a cash dividend equal to approximately $0.55 per depositary share.

The dividend will be paid on April 14, 2023 to respective holders of record as of the close of business on April 4, 2023.

About Cadiz Inc.

Founded in 1983, Cadiz Inc. (NASDAQ: CDZI) is a California water solutions company dedicated to providing access to clean, reliable and affordable water for people through a variety of innovative water supply, storage, conveyance and treatment projects. For more information, please visit www.cadizinc.com.

Safe Harbor Statement  
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "anticipates", "expect", "may", "plan", or "will". Forward-looking statements include, without limitation, projections, predictions, expectations, or beliefs about future events or results and are not statements of historical fact, including statements regarding the Company's expectations regarding payments of dividends in the future. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements. These and other risks are identified in our filings with the Commission, including without limitation our Annual Report on Form 10-K for the year ended December 31, 2021, our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, respectively, and in other filings subsequently made by the Company with the Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date.  We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

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SOURCE Cadiz, Inc.

FAQ

What is the dividend amount for Cadiz's preferred stock?

The dividend amount for Cadiz's 8.875% Series A Cumulative Perpetual Preferred Stock is $550.00 per whole share.

When will the dividend for Cadiz be paid?

The dividend will be paid on April 14, 2023.

What is the record date for Cadiz's dividend payment?

The record date for the dividend payment is April 4, 2023.

What does the ticker CDZIP represent?

The ticker CDZIP represents the depositary shares of Cadiz's Series A Preferred Stock, each representing a 1/1000 fractional interest in a share.