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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Wednesday, March 12th, Wall Street Journal reports. Stockholders of record on Friday, March 21st will be paid a dividend of 0.1125 per share on Monday, March 31st. This represents a $1.35 annualized dividend and a dividend yield of 9.54%. The ex-dividend date is Friday, March 21st.

Ares Dynamic Credit Allocation Fund Trading Up 0.1 %

Shares of Ares Dynamic Credit Allocation Fund stock opened at $14.15 on Thursday. The firm has a fifty day moving average of $15.05 and a two-hundred day moving average of $15.15. Ares Dynamic Credit Allocation Fund has a 52 week low of $13.67 and a 52 week high of $15.62.

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.