Ares Dynamic Credit Allocation Fund, Inc. announces a share repurchase program. Under the program, the company will repurchase its own common shares. The shares will be repurchased on the open market when the common shares are trading on the New York Stock Exchange at a discount of 10% or more from the net asset value of the common shares.

Any repurchases of the common shares will be subject to certain conditions under Rule 10b-18 of the Securities Exchange Act of 1934 and other applicable laws, including Regulation M, which may prohibit such repurchases under certain circumstances. The company may repurchase its outstanding common shares in open-market transactions at the company management's discretion.