Lazard Fund Declares $0.1534 Monthly Distribution with 72% Return of Capital
Lazard Global Total Return and Income Fund declared a $0.15340 per share monthly distribution payable April 22, record April 10, ex-dividend date April 10. Seventy-two percent of the distribution is estimated as return of capital, with net investment income at $0.01796 (12%) and net realized long-term gains of $0.02486 (16%).
1. Distribution Declaration
Lazard Global Total Return and Income Fund’s board confirmed a monthly distribution of $0.15340 per share on common stock, payable April 22, 2026, to shareholders of record by April 10, with the ex-dividend date set for April 10.
2. Distribution Source Breakdown
The fund estimates the current distribution comprises $0.01796 per share from net investment income (12%), $0.02486 from net realized long-term capital gains (16%), and $0.11058 as return of capital (72%).
3. Performance Metrics
Through February 28, 2026, the fund delivered an average annual total return of 8.12% relative to NAV over five years, an annualized distribution rate of 9.85% of NAV, cumulative total return of 3.36% YTD, and distributions equating to 1.64% of NAV YTD.
4. Return of Capital Explanation
Because distributions have exceeded net investment income and realized gains, the fund warns that return of capital components may reflect a return of invested principal rather than yield and should not be conflated with performance metrics.