Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) announced a monthly dividend on Monday, January 13th, Wall Street Journal reports. Stockholders of record on Friday, February 21st will be given a dividend of 0.1075 per share on Friday, February 28th. This represents a $1.29 annualized dividend and a dividend yield of 8.13%. The ex-dividend date of this dividend is Thursday, February 20th.
Ares Dynamic Credit Allocation Fund has increased its dividend by an average of 1.2% per year over the last three years.
NYSE:ARDC opened at $15.86 on Wednesday. Ares Dynamic Credit Allocation Fund has a one year low of $14.42 and a one year high of $15.88. The firm has a 50-day simple moving average of $15.64 and a 200-day simple moving average of $15.07.
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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