-
German exports rise despite Iran war headwinds
-
'Total Eclipse' singer Bonnie Tyler, queen of the 80s power ballad, dies at 75
-
Thousands attend funeral for Afghan cricketer Shapoor Zadran
-
Myanmar names Norwegian Andersen as head of national team
-
Crude pares steep gains as traders take stock after US-Iran flare-up
-
Russell back as Scotland tackle world champions South Africa
-
Cleanup underway as death toll from China floods hits 39
-
Tour de France yellow jersey protocol: 90 minutes of 'stress'
-
Italy recall Allan, Lynagh for All Blacks Nations Championship Test
-
Crude stabilises after US-Iran flare-up rocked peace hopes
-
Rookie fly-half Meredith thrown in for Wallabies debut against France
-
Playmaker Jalibert moves to fullback as France swing axe for Australia clash
-
Taiwan warns of 'destructive' winds as typhoon nears
-
Australian sprint star Gout out of U20 worlds with hamstring tear
-
Farrell rings changes for Ireland's Japan clash
-
Unions to protest as Volkswagen thrashes out job cut plans
-
Magyar's blitz against Orban's Hungary 'mafia' gathers pace
-
Teeth bared in Greece's bear-human showdown
-
Labour leadership contest takes Burnham closer to UK PM's office
-
Alpacas, mini pigs on the loose after floods hit south China zoo
-
New Zealand may join Australia-Fiji defence pact: PM Luxon
-
All Blacks make five changes for Italy Nations Championship clash
-
Fly-half Meredith to make Australia debut against France
-
Western Europe records its hottest June as heatwaves surge: EU monitor
-
US, Iran trade new strikes in fight over Hormuz strait
-
Fashion's mystery man Margiela sells off his archives
-
Modi eyes 'historic' chance to secure Australian uranium
-
Nuclear test-scarred Marshall Islands criticises China missile
-
US crackdown on top AI fuels open-source surge
-
Chip titan SK hynix to set price for mega US listing
-
EU moves closer to kicking kids off social media
-
Crude extends rally as US-Iran flare-up rocks peace hopes
-
Protecting the protectors: racing to save Philippine mangroves
-
Democrat accused of rape exits key US Senate race
-
Expanded World Cup; same old story as Europe dominates quarter-finals
-
Japan student Ito keeps place against Ireland as Jones returns
-
Acumen Pharmaceuticals and Unlearn Collaborate to Explore Analyses of Alzheimer's Disease Clinical Programs
-
Sky Quarry Appoints Refining Industry Veteran Ray Hansen as President of Foreland Refining Corporation
-
GMV Minerals Announces Completion of 16 Diamond Drill Holes on the Mexican Hat Gold Project in SE Arizona - Drill Assays Pending with ~1500 Samples Submitted to Date
-
Darwin Microfluidics Enhances Scientific Product Discovery with Bioz Badges
-
PlatformPay.io and DayOne Announce Partnership to Enhance DTC E-Commerce Merchant Revenue
-
Apex Critical Metals Announces Listing of Common Shares on Euronext Access Paris
-
Caledonia Mining Corporation Plc: Notification of Relevant Change to Significant Shareholder
-
InterContinental Hotels Group PLC Announces Transaction in Own Shares - July 09
-
Morocco's Saibari out of France World Cup quarter-final
-
Belgium bid to crack Spain's ironclad defence in World Cup quarter-final
-
Trump orders new strikes on Iran over attacks on shipping in Hormuz
-
US man sentenced after swapping 17th century manuscript
-
PSG's Lee set to join Atletico Madrid
-
US launches new strikes on Iran after Trump vows to hit 'hard'
Ares Dynamic Credit Allocation Fund Declares a Monthly Distribution of $0.1175 Per Share
Ares Dynamic Credit Allocation Fund, Inc. (the "Fund") (NYSE:ARDC) announced today the declaration of its distribution for the month of December 2024 of $0.1175 per common share, payable as noted below.
The following dates apply to the declared distribution:
Ex-Date: December 20, 2024
Record Date: December 20, 2024
Payable Date: December 31, 2024
Per Share Amount: $0.1175
Based on the Fund's current share price of $15.29 (as of its close on December 9, 2024), the distribution represents an annualized distribution rate of approximately 9.22% (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.
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. 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.
Contact:
Ares Dynamic Credit Allocation Fund, Inc.
John Stilmar
[email protected]
(888) 818-5298
or
Destra Capital Advisors LLC
[email protected]
(877) 855-3434
SOURCE: Ares Dynamic Credit Allocation Fund, Inc.
D.Johnson--AT