LOS
ANGELES, Sept. 22, 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 October 16,
2023 to respective holders of record as of the close of
business on October 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 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 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 www.cadizinc.com.
FORWARD LOOKING STATEMENT: This release contains
forward-looking statements that are subject to significant risks
and uncertainties, including statements related to the future
operating and financial performance of the Company and the
financing activities of the Company. Although the Company
believes that the expectations reflected in our forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Factors that could
cause actual results or events to differ materially from those
reflected in the Company's forward-looking statements include the
Company's ability to maximize value for Cadiz land and water
resources, the Company's ability to obtain new financing as needed,
the receipt of additional permits for the water project and other
factors and considerations detailed in the Company's Securities and
Exchange Commission filings.
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SOURCE Cadiz, Inc.