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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Tuesday, March 10th. Stockholders of record on Friday, March 20th will be given a dividend of 0.1125 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Friday, March 20th.

Ares Dynamic Credit Allocation Fund Stock Down 0.9%

Shares of NYSE:ARDC traded down $0.11 during midday trading on Wednesday, reaching $12.28. The company’s stock had a trading volume of 151,369 shares, compared to its average volume of 121,163. The firm has a 50 day moving average of $13.20 and a 200-day moving average of $13.63. Ares Dynamic Credit Allocation Fund has a 12-month low of $11.52 and a 12-month high of $15.03.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.