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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Thursday, September 12th, Wall Street Journal reports. Shareholders of record on Thursday, September 19th will be given a dividend of 0.1175 per share on Monday, September 30th. This represents a $1.41 annualized dividend and a yield of 9.23%. The ex-dividend date is Thursday, September 19th.

Ares Dynamic Credit Allocation Fund Stock Down 0.6 %

Shares of NYSE:ARDC traded down $0.09 during trading on Thursday, hitting $15.28. The stock had a trading volume of 88,534 shares, compared to its average volume of 102,563. The firm’s fifty day moving average is $15.15 and its 200 day moving average is $14.57. Ares Dynamic Credit Allocation Fund has a 12 month low of $11.83 and a 12 month high of $15.49.

About Ares Dynamic Credit Allocation Fund

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.