Cadiz Inc. Declares Quarterly Dividend for Q2 2024 on Series A Cumulative Perpetual Preferred Stock

Rhea-AI Summary

Cadiz, a California water solutions company, announced a quarterly cash dividend for Q2 2024 on its 8.875% Series A Cumulative Perpetual Preferred Stock. Holders of Series A Preferred Stock will receive $560.00 per share, while holders of depositary shares (representing 1/1000 of a share) will receive $0.56 per depositary share. The dividend will be paid on July 15, 2024, to holders of record as of July 5, 2024. Cadiz, founded in 1983, owns 45,000 acres of land in California, a 2.5 million acre-feet water supply, and 220 miles of pipeline assets.

Positive

• Cadiz declared a quarterly dividend on its Series A Preferred Stock, indicating a return to investors.
• The dividend payment date is set for July 15, 2024, providing immediate benefits to shareholders.
• The dividend amount is substantial, with $560 per whole share and $0.56 per depositary share.

Negative

• None.

LOS ANGELES, June 24, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI / CDZIP) ("Cadiz," the "Company"), a California water solutions company, today announced that its Board of Directors has declared the following cash dividend on the Company'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 $0.56 per depositary share.

The dividend will be paid on July 15, 2024, to respective holders of record as of the close of business on July 5, 2024.

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 unique combination of water supply, storage, pipeline and treatment solutions. With 45,000 acres of land in California, 2.5 million acre-feet of water supply, 220 miles of pipeline assets and the most cost-effective water treatment filtration technology in the industry, Cadiz offers a full suite of solutions to address the impacts of climate change on clean water access.

For more information, please visit https://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 Securities and Exchange Commission (the "Commission"), including without limitation our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Reports on Form 10-Q and 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 dividend did Cadiz (CDZI) announce for Q2 2024?

Cadiz announced a cash dividend of $560.00 per whole share of Series A Preferred Stock and $0.56 per depositary share.

When is the record date for Cadiz's (CDZI) Q2 2024 dividend?

The record date for Cadiz's Q2 2024 dividend is July 5, 2024.

When will Cadiz (CDZI) pay the Q2 2024 dividend?

Cadiz will pay the Q2 2024 dividend on July 15, 2024.

What is the dividend yield of Cadiz's (CDZI) Series A Preferred Stock?

The dividend yield for Cadiz's Series A Preferred Stock is 8.875%.