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Lazard Global Total Return and Income Fund Declares Monthly Distribution and Issues Estimated Sources of the Distribution Announced in May

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Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.10459 per share, payable on July 22, 2024, to shareholders of record on July 11, 2024. The distribution sources include net realized long-term capital gains, with no return from net investment income or short-term capital gains. The fund's annualized distribution rate is 6.84% of NAV, and the cumulative return for the fiscal year is 5.27%. The fund's investment strategy focuses on capital appreciation and current income through a diversified portfolio of US and non-US equity securities and emerging market investments. Financial intermediary firms will provide tax reporting details via Form 1099-DIV.

Positive
  • Monthly distribution confirmed at $0.10459 per share.
  • Annualized current distribution rate of 6.84% of NAV as of May 31, 2024.
  • Cumulative total return for the fiscal year through May 31, 2024, is 5.27%.
  • Investment strategy includes diversified holdings in US and non-US equity securities with market caps over $2 billion.
  • Managed $245.0 billion worth of client assets as of May 31, 2024.
Negative
  • The current distribution includes a significant return of capital, not net investment income.
  • No net investment income or short-term capital gains contribute to the distribution.

NEW YORK--(BUSINESS WIRE)-- Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.10459 per share on the Fund’s outstanding common stock. The distribution is payable on July 22, 2024 to shareholders of record on July 11, 2024. The ex-dividend date is July 11, 2024.

The Fund will pay a previously declared distribution today, June 24, 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.

 

Current Distribution

% of the Current
Distribution

Total Cumulative
Distributions for the
Fiscal Year to Date

% of the Total Cumulative
Distributions for the Fiscal
Year to Date

Net Income

$0.00000

0%

$0.00000

0%

Net Realized Short-
Term Capital Gains

$0.00000

0%

$0.00000

0%

Net Realized Long-
Term Capital Gains

$0.10459

100%

$0.14185

23%

Return of Capital

$0.00000

0%

$0.48569

77%

Total

$0.10459

100%

$0.62754

100%

Average annual total return (in relation to NAV) for the 5-year period ending on May 31, 2024

10.09%

Annualized current distribution rate expressed as a percentage of NAV as of May 31, 2024

6.84%

Cumulative total return (in relation to NAV) for the fiscal year through May 31, 2024

5.27%

Cumulative fiscal year distributions as a percentage of NAV as of May 31, 2024

2.85%

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 May 31, 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 $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, Inc. (NYSE: LAZ), LAM, the Fund's investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of May 31, 2024, LAM and affiliated asset management companies in the Lazard Group managed $245.0 billion worth of client assets. For more information about LAM, please go to www.LazardAssetManagement.com. Follow LAM at @LazardAsset.

Media contact:

Zoe Butt, +44 20 7448 2802

zoe.butt@lazard.com

Investor contact:

Ben Wulfsohn, +1 800 823 6300

ben.wulfsohn@lazard.com

Source: Lazard Global Total Return and Income Fund, Inc.

FAQ

What is the monthly distribution amount for Lazard Global Total Return and Income Fund in July 2024?

The monthly distribution amount for Lazard Global Total Return and Income Fund (NYSE:LGI) in July 2024 is $0.10459 per share.

When is the payable date for Lazard Global Total Return and Income Fund's July 2024 distribution?

The payable date for Lazard Global Total Return and Income Fund's July 2024 distribution is July 22, 2024.

What is the ex-dividend date for Lazard Global Total Return and Income Fund's July 2024 distribution?

The ex-dividend date for Lazard Global Total Return and Income Fund's July 2024 distribution is July 11, 2024.

How much of Lazard Global Total Return and Income Fund's July 2024 distribution is from long-term capital gains?

100% of Lazard Global Total Return and Income Fund's July 2024 distribution is from long-term capital gains.

What is the annualized current distribution rate for Lazard Global Total Return and Income Fund?

The annualized current distribution rate for Lazard Global Total Return and Income Fund (NYSE:LGI) is 6.84% of NAV as of May 31, 2024.

What is the cumulative total return for Lazard Global Total Return and Income Fund for the fiscal year through May 31, 2024?

The cumulative total return for Lazard Global Total Return and Income Fund (NYSE:LGI) for the fiscal year through May 31, 2024, is 5.27%.

What is included in Lazard Global Total Return and Income Fund's investment portfolio?

Lazard Global Total Return and Income Fund's investment portfolio includes 60 to 80 US and non-US equity securities, emerging market currencies, and various fixed-income instruments.

Lazard Global Total Return & Income Fund

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