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 Tuesday, March 11th, 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 dividend on an annualized basis and a dividend yield of 9.51%. The ex-dividend date of this dividend is Friday, March 21st.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of ARDC stock opened at $14.20 on Wednesday. The stock’s 50-day simple moving average is $14.97 and its 200-day simple moving average is $15.12. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $13.67 and a fifty-two week high of $15.62.

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.