BNY Mellon High Yield Strategies Fund Declares Distribution and Announces Reduction in Monthly Distribution Amount

NEW YORK--(BUSINESS WIRE)-- BNY Mellon High Yield Strategies Fund (NYSE: DHF) today announced a monthly cash distribution of $0.015 per share of beneficial interest, payable on January 13, 2023 to shareholders of record at the close of business on December 29, 2022. The ex-dividend date is December 28, 2022. The $0.015 per share investment income dividend represents a decrease of $0.0035 from the previously declared monthly net investment income dividend of $0.0185 per share.

The reduction is primarily a result of an increase in the interest expense associated with DHF's credit facility.

For Federal income tax purposes, this distribution will be taxable to shareholders in 2022, although the distribution will be paid in 2023. This press release is not for tax reporting purposes, but is being provided to announce the amount of the Fund's distribution that has been declared by the Fund's Board of Directors. In early 2023, the Fund will send common shareholders a Form 1099-DIV, specifying how to report this distribution for tax purposes.

Important Information

BNY Mellon High Yield Strategies Fund is a diversified, closed-end management investment company. BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world's largest asset managers, with $1.8 trillion in assets under management as of September 30, 2022. Through an investor-first approach, BNY Mellon Investment Management brings to clients the best of both worlds: specialist expertise from seven investment firms offering solutions across every major asset class, backed by the strength, stability, and global presence of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com.

BNY Mellon Investment Management is a division of BNY Mellon, which has $42.2 trillion in assets under custody and/or administration as of September 30, 2022. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

BNY Mellon Investment Management's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate the website in this release.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.

This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.

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For Press Inquiries:

BNY Mellon Investment Adviser, Inc.

Courtney Woolston

(212) 635-6027

For Other Inquiries:

BNY Mellon Securities Corporation

The National Marketing Desk

240 Greenwich Street

New York, New York 10286

1-800-334-6899

Source: BNY Mellon High Yield Strategies Fund