Golub Capital: A Dividend Cut Is Still Likely
I maintain my 'Hold' rating on GBDC due to ongoing concerns about dividend sustainability, despite a recent improvement in the payout ratio to 100%. The cessation of special dividends reduced short-term risk, but the base dividend remains at risk if adjusted net investment income doesn't stabilize. GBDC's portfolio quality is average, with a low non-accrual ratio, but negative net funds growth and dilution from the merger weigh on per-share results.
Golub Capital BDC, Inc. (GBDC) Q2 2025 Earnings Call Transcript
Golub Capital BDC, Inc. (NASDAQ:GBDC ) Q2 2025 Earnings Conference Call May 6, 2025 12:00 PM ET Company Participants David Golub - CEO & Director Matt Benton - COO Chris Ericson - CFO & Treasurer Conference Call Participants Finian O'Shea - Wells Fargo Robert Dodd - Raymond James Paul Johnson - KBW Operator Welcome to GBDC's Earnings Call for the Fiscal Quarter ended March 31, 2025. Before we begin, I'd like to take a moment to remind our listeners that remarks made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Golub Capital BDC (GBDC) Misses Q2 Earnings and Revenue Estimates
Golub Capital BDC (GBDC) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.51 per share a year ago.
Golub Capital: Massive 11% Yield On Sale
Golub Capital BDC offers an attractive 11% dividend yield and trades at a discount to book value, making it a compelling buy. The company's portfolio is heavily weighted towards first lien debt, ensuring lower risk and strong asset quality. Recent operational performance shows a 3.5% quarterly asset growth and a declining cost of debt, offsetting some yield pressures.
Golub Capital: Is A Dividend Cut In The Cards In 2025? (Rating Downgrade)
Golub Capital BDC's dividend pay-out ratio rose to 123% in 4Q24, raising concerns about potential dividend cuts in 2025 despite improved credit profile. The BDC's portfolio grew to $8.7 billion with a strong focus on First Lien loans, benefiting from robust origination growth and successful restructuring. Despite earning $0.39 per share in adjusted net investment income, the total dividend pay-out ratio suggests heightened dividend risks, leading to a 'Hold' rating.
Golub Capital BDC, Inc. (GBDC) Q1 2025 Earnings Call Transcript
Golub Capital BDC, Inc. (NASDAQ:GBDC ) Q1 2025 Earnings Conference Call February 5, 2025 10:00 AM ET Company Participants David Golub - Chief Executive Officer Chris Ericson - Chief Financial Officer Matt Benton - Chief Operating Officer Conference Call Participants Ray Cheesman - Anfield Capital Finian O'Shea - Wells Fargo Robert Dodd - Raymond James Operator Hello everyone, and welcome to GBDC's Earnings Call for the Fiscal Quarter Ended December 31, 2024. Before we begin, I'd like to take a moment to remind our listeners that remarks made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Golub Capital BDC (GBDC) Lags Q1 Earnings and Revenue Estimates
Golub Capital BDC (GBDC) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.50 per share a year ago.
OBDC & GBDC: Two Income Investments That Offer A Great Value Position
Not all dividend yields are created equal; investors must differentiate between high-yield investments to understand associated risks and income utilization. Blue Owl Capital (OBDC) and Golub Capital (GBDC) are highlighted as examples of firms with distinct yield profiles and risk factors. They continue to support distributions without issue. Despite offering a double digit dividend yield, these BDCs are well structured with relatively low risk.
Golub Capital BDC (GBDC) Q4 2024 Earnings Call Transcript
Golub Capital BDC (NASDAQ:GBDC ) Q4 2024 Results Conference Call November 20, 2024 10:00 AM ET Company Participants David Golub - Chief Executive Officer Matt Benton - Chief Operating Officer Chris Ericson - Chief Financial Officer Conference Call Participants Robert Dodd - Raymond James Paul Johnson - KBW Ray Cheesman - Anfield Capital Operator Hello, everyone, and welcome to GBDC's Earnings Call for the Fiscal Year and Fiscal Quarter Ended September 30, 2024. Before we begin, I'd like to take a moment to remind our listeners that remarks made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Golub Capital BDC (GBDC) Beats Q4 Earnings, Misses Revenue Estimates (Revised)
Golub Capital BDC (GBDC) came out with quarterly earnings of $0.47 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.50 per share a year ago.
Golub Capital BDC (GBDC) Misses Q4 Earnings and Revenue Estimates
Golub Capital BDC (GBDC) came out with quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.50 per share a year ago.
