Credit Suisse High Yield Credit Fund Approves Reverse Share Split

Credit Suisse High Yield Credit Fund (NYSE American: DHY) announced Tuesday that its Board of Trustees has approved a reverse stock split affecting its common shares.

The split will consolidate every ten existing shares into one new share. This action is typically undertaken to increase the market price per share and potentially improve liquidity.

The reverse stock split is scheduled to become effective shortly. Following the consolidation, the total number of outstanding shares will decrease proportionally, while the value per share is expected to rise.

The fund previously disclosed the board's approval of the measure. Shares are traded on the NYSE American under the ticker DHY.