Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) announced a dividend on Thursday, July 11th, NASDAQ reports. Stockholders of record on Tuesday, August 20th will be paid a dividend of 0.108 per share on Friday, August 30th. The ex-dividend date is Monday, August 19th.
Ares Dynamic Credit Allocation Fund has decreased its dividend by an average of 2.8% per year over the last three years.
Shares of ARDC stock opened at $15.04 on Friday. Ares Dynamic Credit Allocation Fund has a one year low of $13.07 and a one year high of $16.14. The company’s fifty day moving average price is $15.19 and its 200-day moving average price is $15.05.
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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