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Lazard Global Total Return and Income Fund Declares Monthly Distribution
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
The Board of Directors of Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.11512 per share on its outstanding common stock. This distribution will be payable on October 22, 2021, to shareholders of record as of October 8, 2021. The ex-dividend date is set for October 7, 2021. The Fund's investment strategy focuses on total return through capital appreciation and income, investing in a diverse portfolio of US and non-US equities, including companies with market caps over $2 billion, and may also include emerging market investments.
Positive
Monthly distribution of $0.11512 per share announced, indicating consistent income for shareholders.
Investment in diverse portfolio, including emerging markets, positions the fund for potential growth.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
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 of $0.11512 per share on the Fund’s outstanding common stock. The distribution is payable on October 22, 2021 to shareholders of record on October 8, 2021. The ex-dividend date is October 7, 2021.
Portfolio data as of August 31, 2021, 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 August 31, 2021, LAM and affiliated asset management companies in the Lazard Group managed $282.8 billion worth of client assets. For more information about LAM, please go to www.LazardAssetManagement.com. Follow LAM at @LazardAsset.
