Shares of Cadiz Inc. (NASDAQ:CDZIP – Get Rating) fell 1.8% on Tuesday . The stock traded as low as $13.26 and last traded at $14.43. 5,619 shares traded hands during trading, an increase of 100% from the average session volume of 2,813 shares. The stock had previously closed at $14.70.
Cadiz Stock Performance
Cadiz Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Wednesday, January 4th were issued a $0.56 dividend. This is a boost from Cadiz’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, January 3rd. This represents a $2.24 annualized dividend and a yield of 15.52%.
Insider Activity at Cadiz
In other news, Director Susan P. Kennedy bought 75,000 shares of Cadiz stock in a transaction that occurred on Tuesday, December 13th. The shares were purchased at an average price of $2.22 per share, with a total value of $166,500.00. Following the completion of the acquisition, the director now directly owns 75,950 shares in the company, valued at $168,609. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 84,905 shares of company stock valued at $192,116 over the last 90 days.
Cadiz Inc, together with its subsidiaries, operates as a natural resources development company in the United States. It engages in the water resource and agricultural development activities in San Bernardino County properties. The company owns approximately 35,000 acres of land in the Cadiz and Fenner valleys of eastern San Bernardino County; and approximately 11,000 acres of land in the eastern Mojave Desert portion of San Bernardino County.
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