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Ares Dynamic Credit Allocation Fund, Inc. (NYSE: ARDC) has appointed Elaine Orr as an independent director and chair of the audit committee, effective August 9, 2022. She replaces Paula B. Pretlow, who has resigned from the Board. Ms. Orr brings significant experience in institutional investment and leadership roles from renowned financial institutions, including BlackRock and HSBC. The Board expresses confidence in her ability to enhance ARDC's portfolio strategy and deliver attractive returns for investors.
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Ares Dynamic Credit Allocation Fund (NYSE: ARDC) announced an increase in its monthly distribution for August 2022 to $0.1025 per common share, up from $0.0975 in July 2022. The distribution will be payable on August 31, 2022, with an ex-date of August 19, 2022 and a record date of August 22, 2022. Based on the current share price of $13.16, this equates to an annualized distribution rate of approximately 9.35%. Future distributions are at the discretion of the Fund and are subject to change based on investment performance.
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