Lazard Fund Declares $0.1534 Distribution; Orszag to Speak June 10
Lazard’s Global Total Return and Income Fund declared a $0.15340 per share distribution payable June 23, with 38% net income, 38% long-term capital gains, 3% short-term gains and 21% return of capital, bringing cumulative FYTD distributions to $0.76700. CEO Peter Orszag will speak at Morgan Stanley’s conference June 10.
1. Monthly Distribution Details
On May 22, Lazard’s Global Total Return and Income Fund announced a monthly distribution of $0.15340 per share on its common stock, payable June 23 to shareholders of record as of June 10, with an ex-dividend date of June 10.
2. Distribution Sources and Fund Performance
The distribution comprises $0.05835 net investment income (38%), $0.05812 long-term capital gains (38%), $0.00473 net realized short-term gains (3%) and $0.03220 return of capital (21%), lifting cumulative fiscal year distributions to $0.76700. The fund’s five-year annualized total return on NAV is 5.76%, the current distribution rate is 10.30% of NAV, year-to-date NAV return is 0.64% and distributions represent 3.43% of NAV.
3. CEO Conference Appearance
Peter R. Orszag, Lazard’s CEO and Chairman, is scheduled for a fireside discussion at the Morgan Stanley U.S. Financials Conference on June 10 at 9:45 a.m. ET, with a live audio webcast and replay available via the Lazard Investor Relations website.