Lazard Wrld Div&incm : Lazard World Dividend & Income Fund Declares Monthly Dividend
02/16/2007| 03:38pm US/Eastern
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The Board of Directors of Lazard World Dividend & Income Fund (NYSE:LOR)
has authorized the Fund to declare today, a monthly dividend
distribution of $0.1167 per share on the company's
outstanding common stock. The dividend is payable on March 23, 2007 to
shareholders of record on March 12, 2007. The ex-dividend date is March
8, 2007.
Inclusive of today's declared distribution,
the cumulative distributions of net investment income and capital gains,
for the last 12 monthly periods total $3.2634 per share and represent a
market yield of 14.6%, based on the share price of $22.42 at the close
of New York Stock Exchange trading on January 31, 2007*.
Portfolio data as of January 31, 2007 including performance, asset
allocation, top 10 holdings, sector weightings, regional exposure, and
other Fund characteristics have been posted on Lazard Asset Management's
website, www.Lazardnet.com.
The Fund's objective is total return, through
a combination of dividends, income, and capital appreciation. The Fund's
net assets are invested in a portfolio of approximately 70 to 100 world
equity securities, consisting primarily of the highest dividend-yielding
stocks selected from the current holdings of other accounts managed by
Lazard Asset Management. The equity portfolio is broadly diversified in
both developed and emerging market countries and across the
capitalization spectrum. The Fund seeks enhanced income by investing in
short duration (typically less than one year) emerging market forward
currency contracts and other emerging market debt instruments.
An indirect subsidiary of Lazard Ltd, Lazard Asset Management LLC (LAM),
the Fund's investment manager, offers a range
of equity, fixed-income, and alternative investment products worldwide.
As of December 31, 2006, LAM and affiliated asset management companies
in the Lazard Group managed more than $110 billion worth of client
assets. For more information about LAM, please go to www.Lazardnet.com.
* Price and yields will fluctuate with changes in market conditions.
Market return does not represent the total return on an investment.
Distributions are subject to re-characterization for tax purposes after
the end of the fiscal year. If the Fund pays distributions in excess of
its net taxable income, this excess would be a return of capital.
© Business Wire 2007
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