Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Declares $0.11 Monthly Dividend

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.1125 per share on Tuesday, March 4th. This represents a $1.35 dividend on an annualized basis and a yield of 8.86%. The ex-dividend date of this dividend is Monday, February 24th.

Ares Dynamic Credit Allocation Fund Price Performance

ARDC traded down $0.18 during midday trading on Thursday, reaching $15.24. The company’s stock had a trading volume of 142,681 shares, compared to its average volume of 83,572. Ares Dynamic Credit Allocation Fund has a 1 year low of $13.45 and a 1 year high of $15.62. The stock’s 50-day moving average is $15.22 and its 200-day moving average is $15.20.

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.