Lazard Global Total Return and Income Fund, Inc. announced on March 23 that it will pay a monthly distribution of $0.15340 per share on its outstanding common stock, with the payment scheduled for April 22 to shareholders of record as of April 10. The fund also confirmed the payment of a previously declared distribution on March 23.
This announcement is made under the fund’s Managed Distribution Policy, which was previously authorized by its Board of Directors. The policy provides shareholders with regular distributions but does not necessarily reflect the fund’s investment performance or yield.
According to the fund, “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, so part of this month’s payout may be classified as 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 reported are only estimates and are not intended for tax reporting purposes; actual tax classifications will depend on results over the remainder of its fiscal year and applicable regulations. Investors will receive Form 1099-DIV from their financial intermediaries detailing how these distributions should be reported for federal income tax purposes.
Portfolio data as well as other characteristics were posted as of February 28 on Lazard Asset Management’s website at www.LazardAssetManagement.com. The fund’s objective is total return through both capital appreciation and current income by investing in a portfolio composed primarily of US and non-US equity securities—including those in emerging markets—as well as currency instruments and debt obligations.
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