Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Plans Monthly Dividend of $0.12

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Tuesday, September 10th, Wall Street Journal reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.1175 per share on Monday, September 30th. This represents a $1.41 annualized dividend and a dividend yield of 9.25%. The ex-dividend date is Friday, September 20th.

Ares Dynamic Credit Allocation Fund Stock Down 0.6 %

NYSE:ARDC opened at $15.25 on Thursday. The business’s 50-day moving average price is $15.16 and its 200 day moving average price is $14.62. Ares Dynamic Credit Allocation Fund has a 52-week low of $11.83 and a 52-week high of $15.49.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.