Ares Dynamic Credit Allocation Fund said on February 9, 2024 that its board of directors declared a regular monthly dividend of $0.12 per share ($1.41 annualized). Previously, the company paid $0.12 per share.
Shareholders of record as of February 21, 2024 will receive the payment on February 29, 2024.
At the current share price of $13.66 / share, the stock's dividend yield is 10.32%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.62%, the lowest has been 7.76%, and the highest has been 13.54%. The standard deviation of yields is 1.27 (n=233).
The current dividend yield is 0.56 standard deviations above the historical average.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 68 funds or institutions reporting positions in Ares Dynamic Credit Allocation Fund. This is an increase of 3 owner(s) or 4.62% in the last quarter. Average portfolio weight of all funds dedicated to ARDC is 0.19%, an increase of 4.45%. Total shares owned by institutions decreased in the last three months by 2.33% to 6,812K shares.
What are Other Shareholders Doing?
Wells Fargo holds 892K shares. In it's prior filing, the firm reported owning 734K shares, representing an increase of 17.74%. The firm decreased its portfolio allocation in ARDC by 60.23% over the last quarter.
Cohen & Steers holds 643K shares. In it's prior filing, the firm reported owning 648K shares, representing a decrease of 0.78%. The firm decreased its portfolio allocation in ARDC by 6.92% over the last quarter.
Sit Investment Associates holds 481K shares. In it's prior filing, the firm reported owning 488K shares, representing a decrease of 1.49%. The firm decreased its portfolio allocation in ARDC by 6.16% over the last quarter.
Raymond James Financial Services Advisors holds 382K shares. In it's prior filing, the firm reported owning 389K shares, representing a decrease of 1.93%. The firm decreased its portfolio allocation in ARDC by 6.25% over the last quarter.
Hennion & Walsh Asset Management holds 326K shares. In it's prior filing, the firm reported owning 339K shares, representing a decrease of 3.81%. The firm decreased its portfolio allocation in ARDC by 8.01% 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:
- Amended and Restated Bylaws of Ares Dynamic Credit Allocation Fund, Inc.
- ARES DYNAMIC CREDIT ALLOCATION FUND, INC. AMENDED AND RESTATED BYLAWS ARTICLE I
- ARES DYNAMIC CREDIT ALLOCATION FUND ANNOUNCES THE RESIGNATION OF M. FREDDIE REISS AND APPOINTMENT OF JAMES K. HUNT TO THE BOARD OF DIRECTORS
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