Ares Dynamic Credit Allocation Fund Declares a Monthly Distribution of $0.1175 Per Share
Ares Dynamic Credit Allocation Fund (NYSE:ARDC) announced a June 2024 monthly distribution of $0.1175 per share. Key dates are:
Ex-Date: June 21, 2024
Record Date: June 21, 2024
Payable Date: June 28, 2024
This distribution equates to an annualized rate of approximately 9.64%, based on the current share price of $14.62 (as of June 10, 2024). However, this rate is informational and not indicative of future results.
The Fund may adjust future distributions at its discretion. Notices about distributions derived from other sources such as short-term capital gains or return of capital will be sent to stockholders and posted on the Fund's website.
The reported amounts are estimates and not for tax purposes. Final determinations will be made post fiscal year-end, with investors receiving Form 1099-DIV in January or February for reporting distributions for federal income tax purposes.
- Monthly distribution of $0.1175 per share confirmed.
- Annualized distribution rate of approximately 9.64%.
- Timely distribution dates set for June 2024.
- Transparency in informing about sources of distribution.
- Distribution rate not indicative of future results.
- Reported amounts are estimates and not finalized for tax purposes.
- Future distribution amounts and timing are discretionary and not guaranteed.
NEW YORK, NY / ACCESSWIRE / June 11, 2024 / Ares Dynamic Credit Allocation Fund, Inc. (the "Fund") (NYSE:ARDC) announced today the declaration of its distribution for the month of June 2024 of
The following dates apply to the declared distribution:
Ex-Date: June 21, 2024
Record Date: June 21, 2024
Payable Date: June 28, 2024
Per Share Amount:
Based on the Fund's current share price of
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
jstilmar@aresmgmt.com
(678) 538-1983
or
Destra Capital Advisors LLC
ARDC@destracapital.com
(877) 855-3434
SOURCE: Ares Dynamic Credit Allocation Fund
View the original press release on accesswire.com
FAQ
What is the June 2024 distribution amount for ARDC?
What is the annualized distribution rate for ARDC in June 2024?
When are the key dates for ARDC's June 2024 distribution?
Is the distribution rate for ARDC guaranteed for the future?
Where can I find information about the sources of ARDC's distributions?
When will investors receive tax reporting information for ARDC distributions?
