Lazard Global Total Return and Income Fund Declares Monthly Distribution

Rhea-AI Summary

The Board of Directors of Lazard Global Total Return and Income Fund (LGI) has approved a monthly distribution of 7.0% on an annualized basis, based on the Fund's net asset value per share as of December 31, 2020. This distribution is set to be paid on January 22, 2021, to shareholders recorded as of January 11, 2021, with an ex-dividend date of January 8, 2021. The Fund's investment strategy focuses on total return through capital appreciation and income, investing in a diversified portfolio of approximately 60 to 80 US and non-US equity securities.

Positive

• Authorized a monthly distribution of 7.0% annualized based on net asset value.
• Distribution date set for January 22, 2021, enhancing shareholder returns.

Negative

• None.

The Board of Directors of Lazard Global Total Return and Income Fund, Inc. (the “Fund”) (NYSE:LGI) has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution equal to, on an annualized basis, 7.0% of the Fund’s net asset value per share as of the close of markets on December 31, 2020 on the Fund’s outstanding common stock. The distribution is payable on January 22, 2021 to shareholders of record on January 11, 2021. The ex-dividend date is January 8, 2021.

Portfolio data as of November 30, 2020, including performance, asset allocation, top 10 holdings, sector weightings, regional exposure, and other Fund characteristics have been posted on Lazard Asset Management’s (“LAM”) website, www.LazardAssetManagement.com. Additionally, any notices required by Section 19(a) of the Investment Company Act of 1940, as amended, which provide information regarding the respective estimated amounts of each monthly distribution derived from net investment income, net realized capital gains (short- and long-term) and return of capital, will also be available on www.LazardAssetManagement.com.

The Fund’s investment objective is total return, consisting of capital appreciation and current income. The Fund’s net assets are invested in a portfolio of approximately 60 to 80 US and non-US equity securities, including American Depository Receipts, generally of companies with market capitalizations greater than $2 billion, and may include investments in emerging markets. The Fund also invests in emerging market currencies (primarily by entry into forward currency contracts), or instruments whose value is derived from the performance of an underlying emerging market currency, and also may invest in debt obligations, including government, government agency and corporate obligations and structured notes denominated in emerging market currencies.

An indirect subsidiary of Lazard Ltd (NYSE: LAZ), LAM, the Fund’s investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of November 30, 2020, LAM and affiliated asset management companies in the Lazard Group managed $247.6 billion worth of client assets. For more information about LAM, please go to www.LazardAssetManagement.com. Follow LAM at @LazardAsset.

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FAQ

What is the monthly distribution amount for Lazard Global Total Return and Income Fund (LGI)?

The monthly distribution authorized is 7.0% on an annualized basis based on the Fund’s net asset value.

When will the distribution for LGI be paid?

The distribution will be paid on January 22, 2021.

What is the ex-dividend date for LGI?

The ex-dividend date for LGI is January 8, 2021.

What is the investment strategy of Lazard Global Total Return and Income Fund (LGI)?

The investment strategy focuses on achieving total return through capital appreciation and current income, investing in a diverse portfolio of US and non-US equity securities.

What is the total amount of assets managed by Lazard Asset Management (LAZ)?

As of November 30, 2020, Lazard Asset Management managed $247.6 billion in client assets.