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

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Monday, January 13th,Wall Street Journal reports. Stockholders of record on Tuesday, January 21st will be paid a dividend of 0.1175 per share on Friday, January 31st. This represents a $1.41 annualized dividend and a dividend yield of 9.43%. The ex-dividend date of this dividend is Tuesday, January 21st.

Ares Dynamic Credit Allocation Fund Price Performance

NYSE:ARDC traded down $0.14 during mid-day trading on Monday, reaching $14.96. 121,995 shares of the stock were exchanged, compared to its average volume of 80,428. The business has a fifty day moving average price of $15.18 and a 200 day moving average price of $15.17. Ares Dynamic Credit Allocation Fund has a 1-year low of $13.36 and a 1-year 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.