The distribution, to be made April 4, will be Lehman's third since it emerged from Chapter 11 protection on March 6, 2012.

Lehman said the payout will increase total distributions to about $47.2 billion, with two-thirds going to third parties.

The company has said it hopes to distribute more than $65 billion, on average about 21 cents on the dollar for allowed claims.

April's payout will include $9.4 billion to third-party creditors and affiliates, $4.4 billion to other Lehman debtors and affiliates, and $370 million for claims deemed valid since the second distribution on Oct. 1.

Following the distribution, holders of senior unsecured claims against the parent company will have received about 14.8 cents on the dollar on their claims, a court filing showed.

Lehman's next distribution is expected around Sept. 30.

Separately, Lehman said it has reached a settlement with Lehman Brothers Finance AG, its former Swiss-based derivatives unit, over billions of dollars of guarantees and intercompany claims.

It said terms will be disclosed later. The settlement requires court approval, and Lehman said it expects a hearing to be held on April 24.

Lehman's wind-down is expected to take a few years. The company is still litigating against JPMorgan Chase & Co, once its main clearing bank, and others to maximize potential payouts to creditors.

Once Wall Street's fourth-largest investment bank, Lehman filed for bankruptcy protection on Sept. 15, 2008, in what was a major trigger for that year's global financial crisis.

The company reported $639 billion of assets at the time, making the bankruptcy by far the largest in U.S. history.

Separately on Wednesday, Lehman issued its monthly operating report.

It has spent about $2.08 billion on fees and expenses for restructuring advisers, law firms and other professional counsel since the bankruptcy began, court filings showed.

The payout for services since the company emerged from Chapter 11 has been about $192 million, including $14.7 million in February, the filings show.

The case is In re: Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555.