Lazard Global Total Return and Income Fund Declares Monthly Distribution and Issues Estimated Sources of the Distribution Announced in April
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.10459 per share, payable on June 24, 2024, to shareholders of record on June 11, 2024. The distribution is entirely a return of capital, as the Fund has distributed more than its net investment income and realized capital gains. The Fund's average annual total return for the 5-year period ending April 30, 2024, is 8.30%, with a current distribution rate of 7.06% and a cumulative total return for the fiscal year through April 30, 2024, of 1.43%. Investors are cautioned not to draw performance conclusions from the distribution amount.
- Declared a monthly distribution of $0.10459 per share.
- Distribution payable on June 24, 2024, to shareholders of record on June 11, 2024.
- Average annual total return of 8.30% over the past 5 years.
- Current distribution rate of 7.06%.
- Distribution sourced entirely from return of capital.
- Cumulative total return for fiscal year through April 30, 2024, is only 1.43%.
- Investors cautioned not to draw performance conclusions from distribution amount.
The Fund will pay a previously declared distribution today, May 22, 2024. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid, including today’s distribution, from the following sources: net investment income, net realized capital gains (short-term and long-term), and return of capital. All amounts are expressed per share of common stock and are based on accounting principles generally accepted in the US, which may differ from federal income tax regulations.
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Current Distribution |
% of the Current
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Total Cumulative
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% of the Total Cumulative
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Net Income |
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Net Realized Short-Term Capital Gains |
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Net Realized Long-Term Capital Gains |
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Return of Capital |
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Total |
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Average annual total return (in relation to NAV) for the 5-year period ending on April 30, 2024 |
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Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2024 |
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Cumulative total return (in relation to NAV) for the fiscal year through April 30, 2024 |
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Cumulative fiscal year distributions as a percentage of NAV as of April 30, 2024 |
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You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Policy.
The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of your distribution may be return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income".
The amounts and sources of distributions reported above are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund provides financial intermediary firms the information necessary to produce the Form 1099-DIV, and then the relevant financial intermediary firm will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. If you have any questions, or need additional information, please call us at 1-800-823-6300.
Portfolio data as of April 30, 2024, 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.
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
An indirect subsidiary of Lazard, Inc. (NYSE: LAZ), LAM, the Fund's investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of April 30, 2024, LAM and affiliated asset management companies in the Lazard Group managed
View source version on businesswire.com: https://www.businesswire.com/news/home/20240522125145/en/
Media:
Zoe Butt, +44 20 7448 2802
zoe.butt@lazard.com
Investor:
Ben Wulfsohn, +1 800 823 6300
ben.wulfsohn@lazard.com
Source: Lazard Global Total Return and Income Fund, Inc.
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