Welcome to our dedicated page for Cadiz news (Ticker: CDZI), a resource for investors and traders seeking the latest updates and insights on Cadiz stock.
Cadiz Inc. reports developments in water supply, groundwater banking, pipeline infrastructure and water filtration in California. The company’s Land and Water Resources activities include eastern Mojave Desert properties, agricultural operations and development of the Mojave Groundwater Bank for supply, storage and conveyance. Its Water Filtration Technology segment provides filtration solutions for impaired or contaminated groundwater sources.
Company announcements also cover project financing, water-agency partnerships, perchlorate treatment work, federal water-infrastructure funding processes and governance changes. Cadiz also issues recurring capital-structure updates tied to its 8.875% Series A Cumulative Perpetual Preferred Stock and related depositary shares traded under CDZIP.
Cadiz Inc. (Nasdaq: CDZI/CDZIP) announced the appointment of Susan Kennedy as executive Chair, succeeding founder Keith Brackpool. Kennedy, with over 30 years of experience in California politics, expressed enthusiasm for leading the company during a critical time for climate action. The company is repurposing a 220-mile pipeline for water transport, addressing California's water supply challenges amidst increasing drought conditions. This project aims to improve water security and has significant implications for sustainable resource management in the region.
Cadiz Inc. (Nasdaq: CDZI/CDZIP) has announced a cash dividend of $560.00 per share on its 8.875% Series A Cumulative Perpetual Preferred Stock, payable on January 18, 2022, to shareholders of record by January 6, 2022. For holders of depositary shares, the dividend will be approximately $0.56 per share. The company continues its commitment to sustainable water and agricultural projects in Southern California, aiming to deliver significant water resources through its upcoming Cadiz Water Project.
Cadiz Inc. (Nasdaq: CDZI/CDZIP) disclosed a new Schedule 13D filed by Heerema International Group Services S.A., which now owns approximately 35% of the company's common stock. Heerema IGS has stated its intention to remain a passive investor. Previously, its shares were held through Hoving & Partners. Cadiz's CEO expressed gratitude for Heerema's support, emphasizing the need for innovative water solutions in California amidst ongoing water shortages. The company is dedicated to enhancing water access through sustainable projects.
Cadiz Inc. (NASDAQ: CDZI) CEO Scott Slater addressed the California Department of Water Resources' unprecedented decision to allocate zero water to its contract districts for the upcoming year. This historic drought impacts 25 million people and 750,000 acres of farmland. Cadiz emphasizes the urgent need for enhanced water access and proposes the Cadiz Northern Pipeline as a potential solution to convey water to drought-affected communities. The company aims to support conservation initiatives and improve groundwater storage, offering possible water supply benefits to 200,000 residents.
Cadiz Inc. (NASDAQ: CDZI) released its 3rd quarter 2021 newsletter outlining significant issues affecting California's water supply amid ongoing drought conditions. The newsletter highlights the urgent need for water conservation as regional water agencies declare drought emergencies. CEO Scott Slater emphasized the company's investment in groundwater storage solutions, including the potential of the Northern Pipeline to convey up to 25,000 acre-feet of water, serving around 200,000 people. Cadiz is focusing on sustainable projects to address future climate challenges.
Cadiz Inc. (Nasdaq: CDZI/CDZIP) announced a cash dividend of $630.00 for each share of its 8.875% Series A Cumulative Perpetual Preferred Stock, and $0.63 per depositary share. The dividend is scheduled for payment on October 15, 2021, to shareholders of record by the close of business on October 5, 2021. Cadiz focuses on sustainable water and agricultural projects in California, managing significant water resources and farming operations.
Cadiz Inc. (NASDAQ: CDZI) addressed the worsening water crisis in California as the new water year begins on October 1, 2022. Following one of the driest years on record, existing water resources are critically low, with major reservoirs like Lake Mead at historical lows. The California State Water Resources Control Board has curtailed water diversions across major rivers, raising concerns about water availability. Despite passing a budget trailer bill allocating $1.2 billion for water projects, significant infrastructure issues remain unaddressed. Cadiz remains committed to providing sustainable water solutions through its groundwater basin and pipeline.
Cadiz Inc. (NASDAQ: CDZI) addressed recent stock volatility, emphasizing that no new material developments or announcements are affecting its operations. The company reaffirmed its positive outlook following its Q2 results released on August 13, 2021. Cadiz owns significant land and water resources in Southern California and aims to implement sustainable projects to address the region's water needs.
Cadiz Inc. (NASDAQ: CDZI) announced the closure of a $50 million senior secured credit facility, part of a larger $107.5 million financing package aimed at reducing debt and funding asset development. The new facility lowers debt from a previous 9.5% to 7%, extending the maturity to July 2024. Proceeds will also cover a senior secured term loan and provide working capital. The company has over $25 million in cash for operations and $10 million allocated for upcoming dividends on its Series A Preferred Stock. This supports Cadiz's mission to address California's water resource challenges.
Cadiz Inc. (NASDAQ: CDZI) announced the completion of its acquisition of the 220-mile Northern Pipeline for $19 million. This pipeline, which extends from California's Central Valley to Cadiz Ranch, is designed to convey up to 30,000 AFY of water, addressing California's growing water supply challenges. The acquisition aims to enhance water access for underserved communities and improve water transportation infrastructure. Cadiz's CEO highlighted the company's commitment to alleviating water access issues, particularly in disadvantaged areas of California.