Ares Dynamic Credit Allocation Fund Declares Monthly Distributions of $0.117 Per Share
January 12 2015 - 8:00AM
Business Wire
Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”)
(NYSE:ARDC) announced the declaration of monthly
distributions for the next three months of $0.117 per common share,
payable as noted below.
Ex-Dates: January 20, 2015
February 17, 2015 March 17, 2015 Record Dates:
January 22, 2015 February 19, 2015 March 19, 2015 Payable Dates:
January 30, 2015 February 27, 2015 March 31, 2015 Per Share Amount:
$0.117 $0.117 $0.117
Based on the Fund’s initial public offering price of $20.00 per
share and current share price of $16.12 (as of its close on January
8, 2015), the distributions represent an annualized distribution
rate of 7.02% and 8.71%, respectively (calculated by annualizing
the distribution amount and dividing it by the IPO share price or
current price, as the case may be). 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.
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 will 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.
About Ares Dynamic Credit Allocation Fund
Ares Dynamic Credit Allocation Fund is a non-diversified,
closed-end management company that is externally managed by Ares
Capital Management II LLC, a subsidiary of Ares Management, L.P.
(NYSE:ARES), a leading global alternative asset manager with
approximately $80 billion in assets under management as of
September 30, 20141. Ares Dynamic Credit Allocation Fund seeks to
provide an attractive level of total return primarily through
current income and, secondarily, through capital appreciation. The
Fund invests in a broad, dynamically-managed portfolio of credit
investments. There can be no assurance that the Fund will achieve
its investment objective. The Fund’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.
______________________
1 Ares Management, L.P. is the parent to several registered
investment advisers, including Ares Management LLC (collectively,
“Ares”). AUM refers to the assets of the funds, alternative asset
companies and other entities and accounts that are managed or
co-managed by Ares, including funds managed by Ivy Hill Asset
Management, L.P., a wholly owned portfolio company of Ares Capital
Corporation, and a registered investment adviser. Amounts include
drawn and undrawn commitments, including certain amounts that are
subject to regulatory leverage restrictions and/or borrowing base
restrictions. AUM amounts are as of September 30, 2014 and
differences may arise due to rounding.
Mendel CommunicationsBill Mendel,
212-397-1030bill@mendelcommunications.comorDestra Capital
Investments877-855-3434ARDC@destracapital.comwww.arespublicfunds.com
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