Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) declared a monthly dividend on Friday, October 11th, Zacks reports. Stockholders of record on Monday, October 21st will be paid a dividend of 0.108 per share on Thursday, October 31st. This represents a $1.30 annualized dividend and a dividend yield of 8.74%. The ex-dividend date of this dividend is Friday, October 18th.
Ares Dynamic Credit Allocation Fund has decreased its dividend payment by an average of 2.8% annually over the last three years.
Shares of NYSE ARDC opened at $14.83 on Thursday. The firm’s 50-day moving average price is $14.89 and its 200-day moving average price is $15.07. Ares Dynamic Credit Allocation Fund has a 1-year low of $13.07 and a 1-year high of $15.53.
About Ares Dynamic Credit Allocation Fund
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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