NEW YORK--(BUSINESS WIRE)--
The Board of Directors of Lazard Global Total Return and Income Fund, Inc. (the “Fund”) (LGI) has declared today a distribution of $1.01932 per share on the Fund’s outstanding common stock. The distribution includes the Fund’s regularly declared monthly dividend of $0.11556 and an additional distribution of $0.90376, of long-term capital gains. The distribution is payable on December 21, 2018 to shareholders of record on December 12, 2018. The ex-dividend date is December 11, 2018. This distribution is in addition to the previously declared spillback distribution of $0.41769 per share on the Fund’s outstanding common stock, which has the same payable, record and ex-dividend dates.
Inclusive of today’s declared distribution, the cumulative distributions for the fiscal year 2018 total $2.70817 per share. It is currently estimated that the cumulative distributions for 2018 will constitute $1.38672 of return of capital (51%), $1.22505 of net realized long-term capital gains (45%) and $0.09640 of net realized short-term capital gains (4%). The amounts and sources of distributions reported are only estimates and are not for tax reporting purposes. The actual amounts and sources of the distributions 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 will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution. A return of capital would indicate that the Fund has distributed more than its income and capital gains and occurs when some or all of your Fund investment is paid back to you. A return of capital distribution is not the result of investment performance.
Portfolio data as of September 28, 2018, 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. Additionally, any notices required by Section 19(a) of the Investment Company Act of 1940, as amended, which provide information regarding the estimated amounts of each monthly distribution derived from net investment income, net realized capital gains (short- and long-term) and return of capital, will also be available on 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 Ltd (LAZ), LAM, the Fund’s investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of September 30, 2018, LAM and affiliated asset management companies in the Lazard Group managed $240 billion worth of client assets. For more information about LAM, please go to www.LazardAssetManagement.com. Follow LAM at @LazardAsset.