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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Friday, October 11th, Wall Street Journal reports. Shareholders of record on Monday, October 21st will be given a dividend of 0.1175 per share on Thursday, October 31st. This represents a $1.41 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date is Monday, October 21st.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of ARDC stock opened at $15.20 on Friday. The company has a 50 day moving average of $15.27 and a 200-day moving average of $14.80. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.83 and a 12-month 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.