Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) announced a monthly dividend on Monday, January 13th, Wall Street Journal reports. Stockholders of record on Friday, February 21st will be paid a dividend of 0.1075 per share on Friday, February 28th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 8.26%. The ex-dividend date is Thursday, February 20th.
Ares Dynamic Credit Allocation Fund has increased its dividend payment by an average of 0.4% annually over the last three years and has raised its dividend annually for the last 1 consecutive years.
Shares of NYSE ARDC traded up $0.02 during midday trading on Monday, reaching $15.61. 91,942 shares of the stock were exchanged, compared to its average volume of 91,668. The company has a 50 day simple moving average of $14.99 and a 200 day simple moving average of $14.97. Ares Dynamic Credit Allocation Fund has a twelve month low of $14.23 and a twelve month high of $15.66.
Ares Dynamic Credit Allocation Fund Company Profile
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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