Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) announced a monthly dividend on Thursday, July 12th, Wall Street Journal reports. Stockholders of record on Thursday, September 20th will be paid a dividend of 0.1075 per share on Friday, September 28th. This represents a $1.29 annualized dividend and a dividend yield of 8.11%. The ex-dividend date is Wednesday, September 19th.

Ares Dynamic Credit Allocation Fund has decreased its dividend by an average of 3.9% annually over the last three years.

ARDC opened at $15.90 on Friday. Ares Dynamic Credit Allocation Fund has a twelve month low of $15.69 and a twelve month high of $16.73.

In other Ares Dynamic Credit Allocation Fund news, insider Daniel J. Hall purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, July 10th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $40,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.

Further Reading: Market Capitalization and Individual Investors

Dividend History for Ares Dynamic Credit Allocation Fund (NYSE:ARDC)

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