Cadiz (NASDAQ:CDZIP) Shares Up 2.2% – Here’s What Happened

Cadiz Inc. (NASDAQ:CDZIP)’s share price traded up 2.2% during trading on Friday . The company traded as high as $22.49 and last traded at $22.32. 12,207 shares were traded during trading, an increase of 73% from the average session volume of 7,038 shares. The stock had previously closed at $21.84.

Cadiz Price Performance

The company has a 50-day simple moving average of $22.07 and a two-hundred day simple moving average of $20.39.

Cadiz Cuts Dividend

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

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.