Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) announced a monthly dividend on Monday, January 14th, Wall Street Journal reports. Investors of record on Wednesday, March 20th will be given a dividend of 0.1075 per share on Friday, March 29th. This represents a $1.29 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date is Tuesday, March 19th.
Ares Dynamic Credit Allocation Fund has decreased its dividend payment by an average of 2.8% per year over the last three years.
ARDC opened at $14.92 on Thursday. Ares Dynamic Credit Allocation Fund has a twelve month low of $13.07 and a twelve month high of $16.73.
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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