Cadiz Declares Quarterly Dividend for Q2 2022 on Series A Cumulative Perpetual Preferred Stock
LOS ANGELES, June 21, 2022 /PRNewswire/ -- Cadiz Inc. ("the Company", NASDAQ: CDZI/CDZIP), a California business dedicated to sustainable water and agricultural projects, 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 15, 2022 to respective holders of record as of the close of business on July 1, 2022.
About Cadiz Inc.
Founded in 1983, Cadiz Inc. (NASDAQ: CDZI) is a California water technology with more than 70 square miles of property, significant infrastructure and water rights. The Company is on a mission to dedicate our unique and diverse land, water, agriculture and infrastructure assets to finding sustainable solutions to California's resource challenges, including providing access to safe, clean water for all communities. Working with California public agencies, we are implementing the Cadiz Water Project, which will manage groundwater at our properties to make available needed water supply and significant storage capacity for underserved communities in California. Cadiz is also the first Company in the world to convert a retiring oil and gas pipeline – the Cadiz Northern Pipeline – for water conveyance in underserved areas of California. 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 Report on Form 10-Q for the three months ended March 31, 2022 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.
