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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Tuesday, September 10th, Wall Street Journal reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.1175 per share on Monday, September 30th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.22%. The ex-dividend date of this dividend is Friday, September 20th.

Ares Dynamic Credit Allocation Fund Stock Performance

Shares of NYSE ARDC traded down $0.07 during mid-day trading on Thursday, reaching $15.30. The company had a trading volume of 90,944 shares, compared to its average volume of 102,577. Ares Dynamic Credit Allocation Fund has a 1-year low of $11.83 and a 1-year high of $15.49. The company has a 50-day moving average price of $15.15 and a two-hundred day moving average price of $14.57.

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.