BlackRock Debt Strategies Fund lends through corporate debt and loans, including lower-rated obligations. Interest from borrowers is the income engine, while defaults and financing can change both income and NAV.
Business
High-yield credit CEF
Listing
DSU · XNYS
Reporting period
2026-06-30
Dividend schedule
Monthly
How the business works
Loan and bond interest becomes net investment income after expenses. Credit gains or losses are separate and can affect the value supporting a managed distribution.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$0.32
Jan 1, 2026 to Jun 30, 2026
$0.00$0.32
Distribution yield12.71%Sourced distributions divided by dated market priceReported annual income yield7.27%Reported net investment income $0.7400 per share for 2025-01-01 to 2025-12-31, divided by approved 2025-12-31 market price $10.1800. Excludes capital gains; historical, not a current yield or forecast.Annual dividend$1.18Current regular payment annualized per shareDistribution supportSee period evidenceCash distributions, NAV and reported returns are shown separately; no earnings-coverage ratio is assigned.
Verified dividend dates and payment components
Issuer announcements supplement the recorded totals above. Each declared payment is shown separately. Additional payments are not assumed to repeat.
The latest four recorded reporting periods. Each issuer measure keeps its own name and dates. These source records supplement the Fly High figures above; different measures are not added together or assumed comparable.
Reviewed USD market closes or SEC-reported prices matched to NAV dates. A different price date or split adjustment is shown in the label.
Cash distributions and reported returns
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
Distribution and NAV evidence
Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable.
Losses or weaker cash generation in below-investment-grade corporate debt can reduce the resources available for future distributions.
Monitor
A change can affect future shareholder cash payments or the capital supporting them.
Leverage and financing
The current data service reports effective leverage of 15.96%. Financing magnifies gains and losses, and borrowing costs reduce income available to common shareholders.
Monitor
A change can affect future shareholder cash payments or the capital supporting them.
The assets behind the earnings
How DSU makes money
Financial snapshot: 2026-06-30. Research reviewed 2026-09-18. Source dates are retained with each measure; historical results are not a forecast.
The assets it owns
$595.010 million net assets1320 holdings · As of 6/30/2026
Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.
A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.
Fund net investment income per common share; actual reporting period, not annualized$0.3200
$0.00$0.40
In the first half of 2026, DSU reported $0.32 of net investment income per common share and $0.59 of total distributions. Income met part of that six-month cash payment; credit results and NAV provide further context. The two older income-history points are full years, not matching half years.
Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
The portfolio information checked September 11, 2026 reports effective leverage of 15.96%.
Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.
BlackRock Debt Strategies Fund, Inc. reported $0.3200 per share for 2026-01-01 through 2026-06-30, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Losses or weaker cash generation in below-investment-grade corporate debt can reduce the resources available for future distributions.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
Check the next matching income and cash figures with loan quality, financing costs, investment results and NAV.
Net asset value (NAV)
NAV per share$9.4000Sep 29, 2026Market price$9.0000Sep 29, 2026PREMIUM / DISCOUNT TO NAV4.26% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.
Regular distribution screen: 12.71% on 2026-09-11.
Reported net investment income per common share: $0.32 for 2026-01-01 through 2026-06-30; not annualized.
What to watch next
Check the next matching income and cash figures with loan quality, financing costs, investment results and NAV.
Fly High context
Check the next matching income and cash figures with loan quality, financing costs, investment results and NAV.
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U.S. federal · Tax year 2025
Dividend tax treatment
The issuer's 2025 estimate shows mainly ordinary dividends and return of capital. The mix can change from year to year.
Ordinary, nonqualified
62.46%
Qualified dividends
0.38%
Capital-gain distributions
0%
Return of capital
37.16%
This 2025 estimate gives you a useful sense of where the cash may land for tax purposes. It may differ from the final forms. Think of it as a guide to the year, then use your own tax statement for the final split.
The issuer calls this breakdown an estimate. The issuer explicitly calls these amounts estimates and says they are not for tax reporting. Actual tax character depends on each shareholder's Form 1099-DIV. Never mark these rows final. Your Form 1099-DIV may show a different final mix. See the issuer's estimate.
Tax year: 2025.
Tax details and source
Total ordinary dividends (includes qualified)
62.84%
Section 199A portion (within ordinary dividends)
Not confirmed
Exempt-interest distributions
Not confirmed
Reporting form
Form 1099-DIV
Source date
Not stated
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
