Ares Dynamic Credit Allocation Fund (ARDC) Declares $0.11 Dividend
Ares Dynamic Credit Allocation Fund said on August 11, 2023 that its board of directors declared a regular monthly dividend of $0.11 per share ($1.35 annualized). Previously, the company paid $0.11 per share.
Shareholders of record as of August 21, 2023 will receive the payment on August 31, 2023.
At the current share price of $12.75 / share, the stock's dividend yield is 10.59%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.39%, the lowest has been 7.76%, and the highest has been 13.54%. The standard deviation of yields is 1.21 (n=235).
The current dividend yield is 0.98 standard deviations above the historical average.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 77 funds or institutions reporting positions in Ares Dynamic Credit Allocation Fund. This is an increase of 1 owner(s) or 1.32% in the last quarter. Average portfolio weight of all funds dedicated to ARDC is 0.13%, a decrease of 23.82%. Total shares owned by institutions decreased in the last three months by 2.53% to 7,933K shares.
What are Other Shareholders Doing?
Cohen & Steers holds 648K shares. In it's prior filing, the firm reported owning 673K shares, representing a decrease of 3.95%. The firm decreased its portfolio allocation in ARDC by 3.38% over the last quarter.
Wells Fargo holds 567K shares. In it's prior filing, the firm reported owning 648K shares, representing a decrease of 14.28%. The firm decreased its portfolio allocation in ARDC by 71.00% over the last quarter.
Sit Investment Associates holds 488K shares. In it's prior filing, the firm reported owning 586K shares, representing a decrease of 20.13%. The firm decreased its portfolio allocation in ARDC by 17.52% over the last quarter.
Guggenheim Capital holds 424K shares. In it's prior filing, the firm reported owning 852K shares, representing a decrease of 100.79%. The firm decreased its portfolio allocation in ARDC by 50.71% over the last quarter.
GIOAX - Guggenheim Macro Opportunities Fund A-Class holds 384K shares. In it's prior filing, the firm reported owning 480K shares, representing a decrease of 24.83%. The firm decreased its portfolio allocation in ARDC by 13.85% over the last quarter.
Ares Dynamic Credit Allocation Fund Background Information
(This description is provided by the company.)
Ares Dynamic Credit Allocation Fund, Inc. is a closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management Corporation. ARDC seeks to provide an attractive level of total return primarily through current income and, secondarily, through capital appreciation. ARDC invests in a broad, dynamically-managed portfolio of credit investments. There can be no assurance that ARDC will achieve its investment objective.
Additional reading:
- Ares Global Ethics and Compliance Manual — September 6, 2016 — Page 1
- Proxy voting policies and procedures of the Fund and its investment adviser are attached hereto in response to Item 7.
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