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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Tuesday, December 10th,Wall Street Journal reports. Investors of record on Friday, December 20th will be given a dividend of 0.1175 per share on Tuesday, December 31st. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.24%. The ex-dividend date is Friday, December 20th.

Ares Dynamic Credit Allocation Fund Trading Down 0.5 %

Shares of ARDC stock opened at $15.26 on Wednesday. The stock has a fifty day simple moving average of $15.19 and a two-hundred day simple moving average of $15.11. Ares Dynamic Credit Allocation Fund has a 52-week low of $13.24 and a 52-week 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.