Ares Dynamic Credit Allocation Fund Declares a Monthly Distribution of $0.0975 Per Share
11 Novembre 2021 - 10:15PM
Business Wire
Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE:
ARDC) announced the declaration of its distribution for the
month of November 2021 of $0.0975 per common share, payable as
noted below.
The following dates apply to the declared distribution:
Ex-Date: November 19, 2021 Record Date: November 22, 2021
Payable Date: November 30, 2021 Per Share Amount: $0.0975
Based on the Fund’s current share price of $16.24 (as of its
close on November 10, 2021), the distribution represents an
annualized distribution rate of approximately 7.20% (calculated by
annualizing the distribution amount and dividing it by the current
price). Information regarding the distribution rate is included for
informational purposes only and is not necessarily indicative of
future results, the achievement of which cannot be assured. The
distribution rate should not be considered the yield or total
return on an investment in the Fund.
The timing and amount of future distributions, if any, are at
the discretion of the Fund. As required by Section 19(a) of the
Investment Company Act of 1940, a notice will be distributed to the
Fund’s stockholders in the event that a portion of a monthly
distribution is derived from sources other than undistributed net
investment income, such as from short-term capital gain, long-term
capital gain, or return of capital. Such notices will also be
posted on the Fund’s website at www.arespublicfunds.com.
The amounts and sources of distributions reported are only
estimates and are not provided for tax reporting purposes. The
actual amounts and sources of the amounts for tax reporting
purposes will depend upon the Fund’s investment performance during
the remainder of its fiscal year and may be subject to change based
on tax regulations. The final determination of the source of these
distributions will be made after the Fund’s fiscal year end. If
necessary, the Fund may elect to pay an adjusting distribution in
December that includes any additional income and net realized
capital gains in excess of the monthly distributions for that year
to satisfy the minimum distribution requirements of the Internal
Revenue Code. In January or February of each year, investors will
be sent a Form 1099‑DIV for the previous calendar year that will
define how to report these distributions for federal income tax
purposes.
This press release is not intended to, and does not constitute,
an offer to purchase or sell shares of ARDC.
About Ares Dynamic Credit Allocation Fund, Inc. Ares
Dynamic Credit Allocation Fund, Inc. (“ARDC”) 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. ARDC’s net asset value
may be accessed through its NASDAQ ticker symbol, XADCX. Additional
information is available at www.arespublicfunds.com.
About Ares Management Corporation Ares Management
Corporation (NYSE: ARES) is a leading global alternative investment
manager offering clients complementary primary and secondary
investment solutions across the credit, private equity, real estate
and infrastructure asset classes. We seek to provide flexible
capital to support businesses and create value for our stakeholders
and within our communities. By collaborating across our investment
groups, we aim to generate consistent and attractive investment
returns throughout market cycles. As of September 30, 2021, Ares
Management Corporation's global platform had approximately $282
billion of assets under management, with approximately 2,000
employees operating across North America, Europe, Asia Pacific and
the Middle East. For more information, please visit
www.aresmgmt.com.
Forward-Looking Statements Statements included herein may
constitute “forward-looking statements” within the meaning of the
U.S. securities laws, and may relate to future events or our future
performance or financial condition. These statements are not
guarantees of future performance, condition or results and involve
a number of risks and uncertainties, including the impact of
COVID-19 and related changes in interest rates and significant
market volatility on our portfolio companies, our industry and the
global economy. Actual results may differ materially from those in
the forward-looking statements as a result of a number of factors,
including those described from time to time in our filings with the
Securities and Exchange Commission and others beyond the Fund’s
control. Ares Dynamic Credit Allocation Fund undertakes no duty to
update any forward-looking statements made herein.
This document is not an offer to sell securities and is not
soliciting an offer to buy securities in any jurisdiction where the
offer or sale is not permitted. An investor should consider the
Fund’s investment objective, risks, charges and expenses carefully
before investing.
Ares Dynamic Credit Allocation Fund is a closed-end fund, which
does not engage in a continuous offering of its shares. Since its
initial public offering, the Fund has traded on the New York Stock
Exchange under the symbol ARDC. Investors wishing to
purchase or sell shares may do so by placing orders through a
broker dealer or other intermediary.
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version on businesswire.com: https://www.businesswire.com/news/home/20211111005822/en/
Media: Mendel Communications LLC Bill Mendel
bill@mendelcommunications.com (212) 397-1030
Investors: Ares Dynamic Credit Allocation Fund, Inc. Carl Drake
cdrake@aresmgmt.com (678) 538-1981 or John Stilmar
jstilmar@aresmgmt.com (678) 538-1983 or Destra Capital Advisors LLC
ARDC@destracapital.com (877) 855-3434
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