Cadiz (NASDAQ:CDZIP) Trading Down 0.8% – Here’s Why

Cadiz Inc. (NASDAQ:CDZIP) shares dropped 0.8% on Monday . The company traded as low as $21.41 and last traded at $22.32. Approximately 7,188 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 6,779 shares. The stock had previously closed at $22.49.

Cadiz Stock Down 0.8%

The business has a fifty day moving average price of $20.00 and a two-hundred day moving average price of $19.66.

Cadiz Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were issued a $0.56 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 10.0%. This is a positive change from Cadiz’s previous quarterly dividend of $0.55.

About Cadiz

Cadiz, Inc (NASDAQ: CDZIP) is a land and water resource management company focused on developing sustainable water supply solutions in Southern California. The company holds approximately 36,000 acres of desert land in the Mojave Basin, where it has pursued the Cadiz Water Project—a plan to capture and convey groundwater to regional municipal and industrial customers. Cadiz oversees the permitting, design, and construction of conveyance infrastructure, including an engineered pipeline and pumping stations.

In addition to its water development activities, Cadiz operates agricultural ventures on its desert holdings, growing crops such as alfalfa while restoring degraded soils and maintaining native habitat.