NEW YORK–(BUSINESS WIRE)–June 10, 2022–
Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced the declaration of its distribution for the month of June 2022 of $0.0975 per common share, payable as indicated below.
The following dates apply to the declared distribution:
Date of secondment: June 17, 2022
Record date: June 21, 2022
Payment date: June 30, 2022
Amount per share: $0.0975
Based on the Fund’s current share price of $13.17 (at its close on June 9, 2022), the distribution represents an annualized distribution rate of approximately 8.88% (calculated by annualizing the amount of the distribution and dividing it by the current price). Information regarding the payout ratio is provided 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 of 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 1940, notice will be distributed to shareholders of the Fund in the event that part of a monthly distribution is derived from sources other than net investment income undistributed, such as 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 estimates only and are not provided for tax reporting purposes. Actual amounts and sources of amounts for tax reporting purposes will depend on the performance of the Fund’s investments over the remainder of its financial year and may be subject to change depending on tax regulations. The final determination of the source of such distributions will be made after the end of the Fund’s fiscal year. If necessary, the Fund may elect to pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the monthly distributions for that year in order to meet the minimum distribution requirements of the Internal Revenue Code. . In January or February of each year, investors will receive a Form 1099-DIV for the previous calendar year which will outline how to report these distributions for federal income tax purposes.
This press release is not intended to, and does not constitute, an offer to buy 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 managed externally 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 portfolio of dynamically managed credit investments. There can be no assurance that ARDC will achieve its investment objective. ARDC’s net asset value can be accessed through its NASDAQ ticker symbol, XADCX. Additional information is available at www.arespublicfunds.com.
Statements included herein may constitute “forward-looking statements” within the meaning of United States securities laws and may relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in interest rates and significant volatility. of the market on our portfolio companies, our industry and the global economy. Actual results may differ materially from those in the forward-looking statements due to 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 assumes no obligation to update any forward-looking statements made herein.
This document is not an offer to sell securities and does not solicit an offer to buy securities in any jurisdiction where the offer or sale is not authorized. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses 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 IPO, the Fund has traded on the New York Stock Exchange under the symbol ARDC. Investors wishing to buy or sell shares may do so by placing orders through a broker or other intermediary.
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CONTACT: Ares Dynamic Credit Allocation Fund, Inc.
Destra Capital Advisors LLC
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CONSULTANCY OTHER PROFESSIONAL SERVICES PROFESSIONAL SERVICES FINANCE
SOURCE: Ares Dynamic Credit Allocation Fund, Inc.
Copyright BusinessWire 2022.
PUBLISHED: 06/10/2022 16:15 / DISK: 06/10/2022 16:16
Copyright BusinessWire 2022.