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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Monday, May 12th, Wall Street Journal reports. Stockholders of record on Monday, May 19th will be given a dividend of 0.1125 per share on Friday, May 30th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 9.56%. The ex-dividend date is Monday, May 19th.

Ares Dynamic Credit Allocation Fund Stock Performance

ARDC stock opened at $14.12 on Wednesday. Ares Dynamic Credit Allocation Fund has a 52 week low of $11.52 and a 52 week high of $15.62. The company’s 50-day simple moving average is $13.67 and its 200 day simple moving average is $14.64.

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.