Dreyfus High Yield Strategies Fund (DHF) Announces Dividend Reduction

On July 23, 2014, the Board of Trustees of DHF declared from net investment income a monthly cash dividend of $0.029 per share of beneficial interest, payable on August 25, 2014 to shareholders of record at the close of business on August 8, 2014. The ex-dividend date is August 6, 2014. The $0.029 per share investment income dividend represents a decrease of $0.003 from the previously declared monthly net investment income dividend of $0.032 per share.

The dividend reduction primarily reflects the lower reinvestment rate environment that has existed in the market for the reinvestment of the proceeds from coupon payments and from called, sold and/or matured securities. DHF's accumulated undistributed investment income-net was approximately $(100 thousand) as of June 30, 2014.^*

^* The accumulated undistributed investment income-net is determined in accordance with income tax regulations, which differ from U.S. generally accepted accounting principles.