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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) declared a monthly dividend on Wednesday, December 11th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.1175 per share on Tuesday, December 31st. This represents a $1.41 dividend on an annualized basis and a yield of 9.20%. The ex-dividend date is Friday, December 20th.

Ares Dynamic Credit Allocation Fund Price Performance

ARDC traded up $0.03 on Wednesday, reaching $15.33. The stock had a trading volume of 90,978 shares, compared to its average volume of 96,268. The firm has a 50-day moving average of $15.19 and a 200-day moving average of $15.07. Ares Dynamic Credit Allocation Fund has a fifty-two week low of $12.88 and a fifty-two 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.