Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) declared a monthly dividend on Monday, January 13th, Wall Street Journal reports. Investors of record on Wednesday, January 22nd will be given a dividend of 0.1075 per share on Friday, January 31st. This represents a $1.29 dividend on an annualized basis and a yield of 8.25%. The ex-dividend date of this dividend is Tuesday, January 21st.
Ares Dynamic Credit Allocation Fund has increased its dividend by an average of 0.4% annually over the last three years and has raised its dividend every year for the last 1 years.
NYSE:ARDC opened at $15.64 on Wednesday. Ares Dynamic Credit Allocation Fund has a 52 week low of $14.23 and a 52 week high of $15.71. The firm’s 50-day simple moving average is $15.06 and its 200 day simple moving average is $14.98.
Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income mutual fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It invests in the fixed income markets of Europe. 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, debt securities issued by CLOs, and other fixed-income instruments.
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