Cadiz (CDZI) Stock News

Cadiz (NASDAQ: CDZI) announced that affiliate Fenner Gap Mutual Water Company has executed principal construction contracts for the Northern Pipeline conversion project using a Construction Manager at Risk model with guaranteed maximum prices for major components, such as pump stations and pipeline replacement.

According to Cadiz, these contracts, combined with pricing for owner-procured equipment, materials and supplier quotations, set estimated capital expenditures to place the Northern Pipeline into service at approximately $403.3 million. The structure is intended to reduce construction cost uncertainty and support project financing for the Mojave Groundwater Bank, including a previously announced application for up to $194 million under the EPA’s WIFIA program.

Cadiz (NASDAQ: CDZI, CDZIP) appointed Jacinto J. Hernandez as executive vice president of finance and chief financial officer, effective September 1, 2026, succeeding Stanley E. Speer, who will retire in September 2026 and remain an advisor through December 31, 2026. Controller Teffiny Bagnara was promoted to vice president.

According to Cadiz, Hernandez will receive 800,000 RSUs and 800,000 PSUs as Nasdaq Rule 5635(c)(4) inducement awards. Of the RSUs, 200,000 vest immediately and 600,000 vest quarterly over three years. The PSUs vest in four tranches of 200,000 units tied to stock-price hurdles over up to five years, otherwise forfeiting.

Cadiz highlights Hernandez’s 26-year capital markets career, including 22 years at Capital Group and board roles at MO, PXD, ARIS, CTRA and DVN. The company emphasizes his experience funding infrastructure, advising on strategy and capital allocation, and his interest in commercializing the Mojave Groundwater Bank and related water solutions platform.

Cadiz (NASDAQ: CDZI) and RIC Energy signed a Memorandum of Understanding to develop on-site solar generation at Cadiz Ranch and expand their green hydrogen collaboration. The MOU covers solar facilities to power Cadiz agricultural operations and a framework for hydrogen production, storage and delivery planning.

The companies plan to negotiate a power purchase agreement for new solar output and jointly assess electrical, transmission and other systems to integrate solar with future hydrogen facilities. They will also evaluate siting, permitting and constructing hydrogen transportation infrastructure, including pipelines, within Cadiz’s existing 220-mile Northern Pipeline corridor and other rights-of-way to serve regional markets.

The initiative is intended to support Cadiz’s Mojave Groundwater Bank and other regional water projects in San Bernardino County. According to Cadiz, the MOU follows a new U.S. Bureau of Land Management right-of-way grant for converting the Northern Pipeline to water conveyance and the formation of the San Bernardino Water and Power Authority to help finance and develop regional water and energy infrastructure.

Cadiz (NASDAQ: CDZI) received a final right-of-way grant from the U.S. Bureau of Land Management authorizing conversion and long-term operation of its 220-mile Cadiz Northern Pipeline from natural gas to water conveyance under Title V of FLPMA.

The ROW covers BLM-managed lands for up to 50 years, enabling delivery of up to 25,000 acre-feet of new water annually from the Mojave Groundwater Bank to High Desert and Inland Empire communities. Cadiz has long-term offtake agreements and construction contracts and is finalizing project financing. The Mojave Groundwater Bank, developed with Lytton Rancheria, is planned to provide over 2.5 million acre-feet of supplemental supplies and up to 1 million acre-feet of storage capacity.

Cadiz (NASDAQ: CDZI) and Central Arizona Irrigation and Drainage District executed an MOU for CAIDD to purchase up to 10,000 acre-feet per year of groundwater from the Mojave Groundwater Bank via an interstate Colorado River exchange.

The proposed 50-year term includes initial volumetric pricing of $850 per AFY (2025 dollars) plus operations, maintenance, power, and a one-time capital charge for pipeline capacity, subject to off-take agreements, new pipeline construction, and Bureau of Reclamation review.

Cadiz (NASDAQ: CDZI / CDZIP) declared a Q2 2026 cash dividend on its 8.875% Series A Cumulative Perpetual Preferred Stock.

Holders receive $550.00 per whole preferred share or $0.55 per depositary share. The dividend is payable on July 15, 2026 to holders of record on July 2, 2026.

Cadiz (NASDAQ: CDZI / CDZIP) announced a funding agreement with the U.S. Bureau of Reclamation to support technical and regulatory review of the Mojave Groundwater Bank project. Initial work will assess Colorado River water exchanges, validate water supply and delivery, and evaluate potential future federal investment steps.

The Mojave Groundwater Bank, in southeastern California, holds about 30 million acre-feet of groundwater, is approved for up to 75,000 acre-feet per year of supply and 1 million acre-feet of imported water storage capacity.

Cadiz (NASDAQ: CDZI / CDZIP) declared a cash dividend on its 8.875% Series A Cumulative Perpetual Preferred Stock: $560.00 per whole share (or $0.56 per depositary share).

The dividend is payable on April 15, 2026 to holders of record at the close of business on April 3, 2026. The company described its water assets and operations and included a standard safe-harbor forward-looking statement.

Cadiz (NASDAQ: CDZI) announced the EPA selected the Mojave Groundwater Bank – Northern Pipeline Project to submit an application for a WIFIA loan reservation of up to $194 million. The reservation holds funds while Cadiz advances underwriting and seeks complementary equity, grants and municipal financing.

The company cites a $51 million first tranche from Lytton Rancheria and due diligence with private equity for up to $400 million into the project vehicle MWI; the bank is approved to provide up to 75,000 acre-feet/year and holds ~30 million acre-feet of groundwater.