Cadiz (NASDAQ:CDZIP) Shares Down 0.7% – Here’s Why

Cadiz Inc. (NASDAQ:CDZIP)’s stock price was down 0.7% on Tuesday . The stock traded as low as $21.10 and last traded at $22.25. Approximately 3,127 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 6,542 shares. The stock had previously closed at $22.40.

Cadiz Trading Down 0.7%

The company’s 50-day simple moving average is $22.22 and its 200-day simple moving average is $21.23.

Cadiz Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend was Thursday, July 2nd.

Cadiz Company Profile

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.