Lazard Global Total Return and Income Fund Announces Monthly Distribution
The Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI) has released an important update regarding its monthly distribution in line with its Managed Distribution Policy, which the Board of Directors has approved. According to the latest announcement, shareholders can expect a distribution of $0.14941 per share. This distribution is planned to be paid in a timely fashion, ensuring that investors receive their returns on time.
Distribution Details
This upcoming distribution will take effect on October 22, 2024, with the record date for shareholders set for October 11, 2024. It's worth mentioning that the ex-dividend date also falls on October 11, 2024. Such timely notifications help investors make well-informed decisions, enhancing their overall experience as shareholders.
Furthermore, there will also be a previously declared distribution taking place today, September 23, 2024. This proactive stance by the Fund shows its dedication to providing consistent returns to its investors. Below are further details offering a comprehensive overview of the current distribution as well as the cumulative distributions for the fiscal year to date.
Sources and Breakdown of Distribution
The distributions from the Fund arise from several sources, including net investment income, net realized capital gains (both short- and long-term), and a return of capital. It’s essential for investors to understand these sources for better clarity on how their distributions are determined.
Estimated Distribution Components
The latest total distribution of $0.14941 per share can be broken down as follows:
- Net Income: $0.00000 (0% of total distribution)
- Net Realized Short-Term Capital Gains: $0.00000 (0% of total distribution)
- Net Realized Long-Term Capital Gains: $0.13427 (90% of total distribution)
- Return of Capital: $0.01514 (10% of total distribution)
For the fiscal year to date, total cumulative distributions amount to $1.07577, which represents 100% of the total cumulative distributions. This detailed breakdown provides shareholders with a clearer picture of their returns.
Performance Overview
From a performance standpoint, the Fund has reported an average annual total return regarding NAV over the five-year period ending on August 31, 2024, which stands at 10.07%. This impressive figure highlights the Fund's ability to generate substantial returns.
Current Distribution Yield and Rate
The current annualized distribution rate, expressed as a percentage of NAV, is noted at 9.48%. Additionally, the cumulative total return for the fiscal year through August 31, 2024, achieved a remarkable 10.97%. These figures point to a reliable and rewarding investment opportunity for those involved with the Fund.
Investment Goals and Strategies
The Fund's primary goal is to achieve total returns, focusing on both capital growth and steady income. It invests in a diverse portfolio that includes 60 to 80 U.S. and international equity securities, particularly companies with market capitalizations of over $2 billion. Notably, the Fund also invests in emerging markets.
Lazard Asset Management (LAM), the Fund's advisor, adopts a strategic approach that allows investments in emerging market currencies through various instruments. This strategy aims to maintain a balanced risk-return profile for investors and also explores a variety of debt obligations to bolster the Fund’s growth potential.
More on Lazard Asset Management
Lazard Asset Management, an indirect subsidiary of Lazard, Inc. (NYSE: LAZ), manages a significant portfolio that exceeds $244.3 billion in client assets as of August 31, 2024. Their expansive global reach enables them to offer a variety of equity, fixed-income, and alternative investment products, catering to diverse investor aims.
For a closer look at the Fund's portfolio data as of August 31, 2024, including performance metrics and asset allocation, investors are encouraged to visit the official website of Lazard Asset Management.
If any shareholders have questions or need additional information, they can contact customer service at 1-800-823-6300 for assistance.
Frequently Asked Questions
What is the monthly distribution amount announced?
The Fund has announced a monthly distribution of $0.14941 per share.
When will the distribution be paid?
The distribution is scheduled to be paid on October 22, 2024, to shareholders on record as of October 11, 2024.
What are the sources contributing to the distribution?
The distribution is comprised of sources such as net income, net realized capital gains, and return of capital.
How has the Fund performed in recent times?
The Fund has recorded an annual total return of 10.07% over the last five years, which is quite impressive.
What is the Fund's investment strategy?
The Fund focuses on achieving both capital growth and current income by investing in U.S. and international equities, which include those from emerging markets.
