Ares Dynamic Credit Allocation Fund, Inc. (ARDC) To Go Ex-Dividend on June 21st

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDCGet Free Report) announced a monthly dividend on Tuesday, June 11th, Wall Street Journal reports. Shareholders of record on Friday, June 21st will be given a dividend of 0.1175 per share on Friday, June 28th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date is Friday, June 21st.

Ares Dynamic Credit Allocation Fund Stock Down 0.6 %

Shares of NYSE ARDC opened at $14.63 on Wednesday. The stock has a fifty day moving average price of $14.28 and a two-hundred day moving average price of $13.88. Ares Dynamic Credit Allocation Fund has a 1 year low of $11.83 and a 1 year high of $14.93.

Insiders Place Their Bets

In related news, Director John Joseph Shaw sold 15,876 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $14.09, for a total transaction of $223,692.84. Following the completion of the sale, the director now directly owns 14,124 shares of the company’s stock, valued at $199,007.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ares Dynamic Credit Allocation Fund Company Profile

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Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. 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, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.

Further Reading

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

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