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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Tuesday, August 11th. Shareholders of record on Friday, August 21st will be given a dividend of 0.1125 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Friday, August 21st.

Ares Dynamic Credit Allocation Fund Trading Down 0.0%

ARDC traded down $0.01 during trading on Wednesday, reaching $12.45. 20,719 shares of the company’s stock were exchanged, compared to its average volume of 121,403. Ares Dynamic Credit Allocation Fund has a one year low of $11.60 and a one year high of $15.03. The firm has a fifty day moving average price of $12.57 and a two-hundred day moving average price of $12.63.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.