LOS
ANGELES, Dec. 22, 2023 /PRNewswire/ -- Cadiz,
Inc. (NASDAQ: CDZI, NASDAQ: CDZIP) (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 January 15, 2024 to
respective holders of record as of the close of business on
January 4, 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 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, 2022 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.