Welcome to our dedicated page for Lazard news (Ticker: LAZ), a resource for investors and traders seeking the latest updates and insights on Lazard stock.
Lazard, Inc. reports developments in financial advisory and asset management, its two recurring business lines. The firm provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, while its asset management business offers investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals.
Recurring LAZ news includes quarterly operating results, monthly assets-under-management updates with flow, market, foreign-exchange and asset-class detail, common-stock dividend declarations, additions to advisory sector groups, and strategic updates for the global platform. Coverage also reflects the firm’s operations in North and South America, Europe, the Middle East, Asia and Australia.
Lazard Ltd (NYSE: LAZ) reported record annual operating revenue of $3,139 million for 2021, a 24% increase from 2020. Adjusted net income reached $576 million, or $5.04 per share, marking a 40% rise compared to the previous year. The fourth quarter also saw record results with adjusted net income of $217 million. Financial Advisory revenue surged 27% to $1,778 million, while Asset Management revenue rose 20% to $1,329 million. Additionally, Lazard returned $670 million to shareholders in 2021, showcasing strong capital management and a commitment to long-term shareholder value.
Lazard Ltd (NYSE: LAZ) has declared a quarterly dividend of $0.47 per share on its outstanding common stock. This dividend is scheduled for payment on February 25, 2022, to stockholders of record as of February 14, 2022. Lazard, a leading financial advisory and asset management firm, operates globally and has a long-standing history dating back to 1848. The firm provides a wide range of financial services including mergers and acquisitions advice, strategic restructuring, and asset management.
Lazard Ltd (NYSE: LAZ) has appointed General John P. Abizaid as a Senior Advisor in its Financial Advisory division, effective immediately. Abizaid, a retired U.S. Army four-star General and former U.S. Ambassador to Saudi Arabia, will focus primarily on the Middle East and Europe. Lazard's leadership, including Chairman Kenneth M. Jacobs and CEO of Financial Advisory Peter R. Orszag, highlighted Abizaid's extensive experience and strategic insight, which they believe will enhance the firm's offerings to clients.
The Board of Directors of Lazard Global Total Return and Income Fund (NYSE:LGI) has announced a monthly distribution of $0.12473 per share on its common stock. This distribution is set for payment on February 22, 2022, to shareholders of record from February 9, 2022. The ex-dividend date is February 8, 2022. As of December 31, 2021, the Fund's net assets are allocated across 60 to 80 US and non-US equities, focusing on companies with market capitalizations exceeding $2 billion. Lazard Asset Management manages assets totaling $273.7 billion.
Lazard Ltd (NYSE: LAZ) is set to release its full-year and fourth-quarter 2021 financial results on February 3, 2022. A press release will be available on Lazard's website. Additionally, the company will host a conference call at 8:00 a.m. EST the same day to discuss the results. Access to the conference call will be provided via a live audio webcast or through a dedicated phone line. A replay of the call will also be available later that day.
Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $273.7 billion as of December 31, 2021. The report indicated a market appreciation of $8.5 billion, net outflows of $3.0 billion, and foreign exchange appreciation of $0.9 billion. Additionally, the average AUM for the quarter ending December 31, 2021 stood at $273.5 billion, reflecting $221.0 billion in equity, $46.3 billion in fixed income, and $6.4 billion in other assets.
The Lazard Global Total Return and Income Fund, Inc. (NYSE: LGI) has announced a monthly distribution of $0.12473 per share, representing a 7.0% annualized return based on the net asset value as of December 31, 2021. This distribution will be paid on January 21, 2022, to shareholders on record as of January 10, 2022, with an ex-dividend date of January 7, 2022. The Fund's goal is to achieve total return through capital appreciation and current income, investing in 60 to 80 US and non-US equity securities and emerging market currencies. As of November 30, 2021, Lazard Asset Management managed $267.4 billion in assets.
Lazard Global Total Return and Income Fund (NYSE: LGI) has elected to be subject to the Maryland Control Share Acquisition Act (MCSAA) to protect the interests of its stockholders. This law limits the voting rights of holders of 'control shares' above 10% unless approved by other stockholders. The move aims to prevent undue influence from single stockholders seeking short-term gains, ensuring long-term value for all stockholders. As of November 30, 2021, Lazard's investment manager, LAM, managed $267.4 billion in client assets, highlighting its significant market presence.
The Board of Directors of Lazard Global Total Return and Income Fund (NYSE:LGI) has announced a monthly distribution rate of 7.0% based on the Fund's net asset value as of December 31, 2021.
This distribution is payable on January 21, 2022, to shareholders of record as of January 10, 2022, with an ex-dividend date of January 7, 2022. The Fund primarily invests in a diversified portfolio of US and non-US equity securities and may include emerging markets.
The Board of Directors of Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a distribution of $0.59267 per share, consisting entirely of long-term capital gains. This distribution is payable on January 11, 2022, to shareholders of record on December 28, 2021. Cumulative distributions for the fiscal year ending December 31, 2021, total $1.97 per share, with estimates indicating $0.90 will be a return of capital. Lazard Asset Management, managing $267.4 billion in assets, oversees the Fund's investments.