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 Thursday, July 11th, NASDAQ reports. Shareholders of record on Monday, July 22nd will be given a dividend of 0.108 per share on Wednesday, July 31st. This represents a $1.30 annualized dividend and a yield of 8.38%. The ex-dividend date of this dividend is Friday, July 19th.
Ares Dynamic Credit Allocation Fund has decreased its dividend payment by an average of 2.8% annually over the last three years.
NYSE:ARDC opened at $15.46 on Wednesday. The stock’s fifty day moving average price is $15.15. Ares Dynamic Credit Allocation Fund has a 52-week low of $13.07 and a 52-week high of $16.14.
Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.
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