GBDC Stock Recent News

Caring about dividends can increase our returns, but caring about NAV can save our portfolio. Return and NAV protection must go hand in hand, because there can be no sustainable return without protecting the value of the underlying assets. As far as I am concerned, the way to protect my portfolio is to favor only securities with a positive NAV over time.

Golub Capital BDC delivered another solid quarter with a 2.4% total NAV return, maintaining a 10.55% dividend yield and trading near the NAV. The portfolio remains highly diversified, focused on first-lien floating-rate loans with low non-accruals and improving internal ratings. Leverage is above target, though management is not rushing to reduce it. The company benefits from low fees and floating-rate liabilities.

I am downgrading Golub Capital BDC to 'hold' due to declining net investment income and the risk of a potential dividend cut. While Q3 2025 earnings beat expectations, income barely covers the dividend, and further rate cuts could pressure payouts and stock price. Positives include low non-accruals and improved internal performance ratings, suggesting better credit quality and future deal flow opportunities.

Golub Capital Bdc (GBDC 0.61%), a business development company focused on lending to middle-market companies, reported its Q3 FY2025 earnings on August 4, 2025. Headline results showed adjusted net investment income per share holding steady at $0.39, in line with analyst expectations.

Golub Capital BDC (NASDAQ:GBDC ) Q3 2025 Earnings Conference Call August 5, 2025 10:30 AM ET Company Participants Christopher Compton Ericson - CFO & Treasurer David B. Golub - CEO & Director Matthew W.

Golub Capital BDC (GBDC) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.48 per share a year ago.

NEW YORK--(BUSINESS WIRE)--Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced its financial results for its third fiscal quarter ended June 30, 2025. Except where the context suggests otherwise, the terms “we,” “us,” “our,” and “Company” refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. “GC Advisors” refers to GC Advisors LLC, our investment adviser. SELECTED FINANCIAL HIGHLIGHTS                   (in thousands, except per share data)      .

Golub Capital's current valuation is not compelling, trading at a slight premium to NAV despite ongoing NAV declines and a lack of unique advantages. Dividend yield is attractive at 11.4%, but coverage is just 100%, offering no margin of safety and below sector average sustainability. Portfolio yields are declining, refinancing risk is rising, and GBDC lacks the balance sheet flexibility or equity exposure of top peers.

Similar preferred shares trade at materially different prices. One of these preferred shares is surprisingly expensive. One of the best BDCs is nearing an incredibly rare threshold.

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