Lazard World Dividend & Income Fund Declares Monthly Distribution

NEW YORK–(BUSINESS WIRE)–

The Board of Directors of Lazard World Dividend amp; Income Fund, Inc. (the Fund) (LOR) has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.06045 per share on the Fund’s outstanding common stock. The distribution is payable on April 24, 2017 to shareholders of record on April 12, 2017. The ex-dividend date is April 10, 2017.

Portfolio data as of February 28, 2017, 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.LazardNet.com. Additionally, any notices required by Section 19(a) of the Investment Company Act of 1940, as amended, which provide information regarding the respective 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.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 60 to 90 world equity securities, consisting primarily of stocks selected from the current holdings of other accounts managed by LAM. 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 (LAZ), LAM, the Fund’s investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of December 31, 2016, LAM and affiliated asset management companies in the Lazard Group managed $198 billion worth of client assets. For more information about LAM, please go to www.LazardNet.com.

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VA lending turns in a record year

When mortgage loan money was flowing from banks before the 2008 financial crash, many vets paid little attention to the benefit of getting a VA loan, and lenders often steered vets into private loans that had less government red tape and could be approved faster. But since the crash, they have become a reliable source of home-buying assistance for a segment of the population.

Between 2009 and 2015, the total annual volume of VA mortgage originations more than doubled, from $75 billion to $155 billion, according to the Urban Institute.

Last year was a record year for VA loans, with $179.1 billion provided through 707,107 loans, either for purchases or to refinance old loans — an increase of 12 percent over 2015. That included 12,968 loans in Illinois in 2016, or a total of $2.6 billion. The average loan in Illinois was for $204,999 compared with $253,000 for the nation, according to Veterans Affairs.

The VA loan program began in 1944, when the government made it possible for veterans returning from World War II to buy homes. About 22 million veterans have received them.