Cadiz Inc. Declares Quarterly Dividend for Q1 2025 on Series A Cumulative Perpetual Preferred Stock

Rhea-AI Summary

Cadiz Inc. (NASDAQ: CDZI), a California water solutions company, has announced a quarterly dividend declaration for Q1 2025 on its 8.875% Series A Cumulative Perpetual Preferred Stock. Shareholders will receive $550.00 per whole share, while holders of depositary shares (NASDAQ: CDZIP) will receive $0.55 per depositary share. The dividend payment is scheduled for April 15, 2025, with a record date of April 4, 2025.

The company, founded in 1983, specializes in water supply, storage, pipeline, and treatment solutions. Cadiz maintains 45,000 acres of land in California, manages 2.5 million acre-feet of water supply, and operates 220 miles of pipeline assets, utilizing cost-effective water treatment filtration technology to address climate change impacts on clean water access.

Positive

• Regular dividend payment demonstrates financial stability
• Substantial water infrastructure assets: 45,000 acres of land and 2.5 million acre-feet of water supply
• Extensive pipeline network of 220 miles

Negative

• None.

Insights

Financial Analyst

Cadiz's quarterly dividend declaration on its Series A Preferred Stock represents regular income maintenance for preferred shareholders. The company is fulfilling its 8.875% dividend obligation with a $0.55 per depositary share payout, maintaining its commitment to this class of securities.

This routine announcement primarily affects holders of the CDZIP ticker (preferred shares) rather than common stockholders (CDZI). The $550 per whole preferred share (or $0.55 per depositary share) payment follows the expected schedule with an April 15th payment date for holders of record as of April 4th.

From a cash flow perspective, this dividend represents a predictable and recurring obligation for Cadiz. For investors in the preferred shares, this reaffirms the income-generating purpose of their investment. The company continues to meet its dividend obligations, which suggests adequate near-term liquidity to satisfy these payments.

While this announcement doesn't provide new strategic information about Cadiz's water solutions business or significant changes to its financial position, it does represent continuity in capital allocation policies. For income-focused investors in the preferred shares, this announcement confirms their expected quarterly return is secure for this period.

LOS ANGELES, March 24, 2025 /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 $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 $0.55 per depositary share.

The dividend will be paid on April 15, 2025, to applicable holders of record as of the close of business on April 4, 2025.

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 is the dividend amount for Cadiz (CDZI) Series A Preferred Stock in Q1 2025?

Cadiz will pay $550.00 per whole share for Series A Preferred Stock and $0.55 per depositary share (CDZIP) for Q1 2025.

When is the dividend payment date for Cadiz (CDZI) Q1 2025 preferred stock?

The dividend will be paid on April 15, 2025, to holders of record as of April 4, 2025.

What are Cadiz's (CDZI) current water infrastructure assets?

Cadiz owns 45,000 acres of land, 2.5 million acre-feet of water supply, and 220 miles of pipeline assets in California.

What is the difference between CDZI and CDZIP stock symbols?

CDZI represents Cadiz common stock, while CDZIP represents depositary shares of the 8.875% Series A Cumulative Perpetual Preferred Stock.