Ares Dynamic Credit Allocation Fund, Inc. (ARDC) to Issue Monthly Dividend of $0.11 on March 31st

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Tuesday, March 11th, Wall Street Journal reports. Investors of record on Friday, March 21st will be given a dividend of 0.1125 per share on Monday, March 31st. This represents a $1.35 annualized dividend and a yield of 9.56%. The ex-dividend date of this dividend is Friday, March 21st.

Ares Dynamic Credit Allocation Fund Trading Down 0.3 %

ARDC stock traded down $0.04 during midday trading on Thursday, hitting $14.13. 100,625 shares of the company traded hands, compared to its average volume of 93,168. The business has a 50 day simple moving average of $15.05 and a 200-day simple moving average of $15.15. Ares Dynamic Credit Allocation Fund has a twelve month low of $13.67 and a twelve month 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.