Ares Dynamic Credit Allocation Fund Inc (ARDC) to Issue $0.11 Monthly Dividend

Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) declared a monthly dividend on Thursday, October 11th, NASDAQ reports. Shareholders of record on Monday, October 22nd will be given a dividend of 0.108 per share on Wednesday, October 31st. This represents a $1.30 annualized dividend and a yield of 8.36%. The ex-dividend date of this dividend is Friday, October 19th.

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

ARDC opened at $15.51 on Thursday. Ares Dynamic Credit Allocation Fund has a 1-year low of $14.86 and a 1-year high of $16.73.

In other news, Director John Joseph Shaw bought 20,000 shares of Ares Dynamic Credit Allocation Fund stock in a transaction dated Wednesday, September 26th. The stock was purchased at an average price of $15.56 per share, for a total transaction of $311,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

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: Buyback

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

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