Ares Dynamic Credit Allocation Fund, Inc. (ARDC) to Issue Monthly Dividend of $0.10 on January 31st

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) announced a monthly dividend on Thursday, January 13th, Wall Street Journal reports. Shareholders of record on Friday, January 21st will be paid a dividend of 0.0975 per share on Monday, January 31st. This represents a $1.17 annualized dividend and a yield of 7.29%. The ex-dividend date is Thursday, January 20th.

Ares Dynamic Credit Allocation Fund has decreased its dividend by 9.3% over the last three years.

Shares of NYSE ARDC opened at $16.06 on Friday. Ares Dynamic Credit Allocation Fund has a 1-year low of $14.33 and a 1-year high of $16.66. The business’s fifty day moving average price is $15.94 and its two-hundred day moving average price is $16.14.

An institutional investor recently raised its position in Ares Dynamic Credit Allocation Fund stock. Morgan Stanley grew its holdings in shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) by 17.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 200,957 shares of the company’s stock after purchasing an additional 30,404 shares during the period. Morgan Stanley’s holdings in Ares Dynamic Credit Allocation Fund were worth $3,253,000 at the end of the most recent reporting period.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-end investment company. Its investment objective is to provide an attractive level of total return, through current income, and capital appreciation. The company was founded on March 14, 2011 and is headquartered in Los Angeles, CA.

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

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