NEW YORK--(BUSINESS WIRE)--Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE:ARDC) announced the declaration of the monthly distribution of the Fund for the period ending July 31, 2015 of $0.117 per common share, payable as noted below.       Ex-Dates:   July 21, 2015 Record Dates: July 23, 2015 Payable Dates: July 31, 2015 Per Share Amount:   $0.117   Based on the Fund’s initial public offering price of $20.00 per share and current share price of $15.22 (as of its close on July 9, 2