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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Monday, February 24th will be paid a dividend of 0.1125 per share on Tuesday, March 4th. This represents a $1.35 annualized dividend and a dividend yield of 8.86%. The ex-dividend date is Monday, February 24th.

Ares Dynamic Credit Allocation Fund Price Performance

Shares of NYSE ARDC traded down $0.18 during midday trading on Thursday, hitting $15.24. 142,681 shares of the company traded hands, compared to its average volume of 83,572. Ares Dynamic Credit Allocation Fund has a 12-month low of $13.45 and a 12-month high of $15.62. The stock has a 50-day moving average price of $15.22 and a 200 day moving average price of $15.20.

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.