CADIZ INC. DECLARES QUARTERLY DIVIDEND FOR Q2 2023 ON SERIES A CUMULATIVE PERPETUAL PREFERRED STOCK

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Cadiz Inc. announces cash dividend on Series A Preferred Stock

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• Cadiz Inc. declares cash dividend on its 8.875% Series A Cumulative Perpetual Preferred Stock. Holders of Series A Preferred Stock will receive a cash dividend of $560.00 per share. Holders of depositary shares will receive approximately $0.56 per share.

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• None.

LOS ANGELES, June 23, 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 $560.00 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 $0.56 per depositary share.

The dividend will be paid on July 14, 2023 to respective holders of record as of the close of business on July 3, 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, 2022 and our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2023, 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 declared by Cadiz Inc. on its Series A Preferred Stock?

Cadiz Inc. has declared a cash dividend of $560.00 per share on its 8.875% Series A Cumulative Perpetual Preferred Stock.

How much will holders of depositary shares receive as a dividend?

Holders of depositary shares will receive a cash dividend of approximately $0.56 per share.

When will the dividend be paid?

The dividend will be paid on July 14, 2023.

Who is eligible to receive the dividend?

Respective holders of record as of the close of business on July 3, 2023, will be eligible to receive the dividend.