Golub Capital BDC, Inc. (NASDAQ:GBDC) Declares Quarterly Dividend of $0.39

Golub Capital BDC, Inc. (NASDAQ:GBDC) announced a quarterly dividend on Friday, May 2nd, Wall Street Journal reports. Investors of record on Friday, June 13th will be paid a dividend of 0.39 per share by the investment management company on Friday, June 27th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 10.21%. The ex-dividend date of this dividend is Friday, June 13th.

Golub Capital BDC has a payout ratio of 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Golub Capital BDC to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 97.5%.

Golub Capital BDC Price Performance

Shares of NASDAQ GBDC opened at $15.28 on Wednesday. The company has a fifty day moving average price of $14.47 and a 200 day moving average price of $15.02. The firm has a market cap of $4.07 billion, a PE ratio of 11.07 and a beta of 0.52. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.22. Golub Capital BDC has a 1-year low of $12.68 and a 1-year high of $16.15.

Golub Capital BDC (NASDAQ:GBDC) last issued its quarterly earnings results on Monday, May 5th. The investment management company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $211.10 million during the quarter, compared to the consensus estimate of $223.89 million. Golub Capital BDC had a net margin of 39.63% and a return on equity of 11.18%. During the same quarter last year, the firm earned $0.55 earnings per share. Research analysts predict that Golub Capital BDC will post 1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Lawrence E. Golub bought 6,059,971 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average cost of $15.13 per share, with a total value of $91,687,361.23. Following the completion of the purchase, the chairman now owns 6,059,971 shares of the company’s stock, valued at $91,687,361.23. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.60% of the company’s stock.

Institutional Trading of Golub Capital BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBDC. Empowered Funds LLC grew its position in shares of Golub Capital BDC by 140.0% in the 1st quarter. Empowered Funds LLC now owns 27,411 shares of the investment management company’s stock valued at $415,000 after acquiring an additional 15,988 shares during the period. Focus Partners Wealth lifted its stake in Golub Capital BDC by 24.9% in the 1st quarter. Focus Partners Wealth now owns 33,355 shares of the investment management company’s stock valued at $505,000 after purchasing an additional 6,658 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Golub Capital BDC by 19.7% during the first quarter. NewEdge Advisors LLC now owns 43,534 shares of the investment management company’s stock worth $659,000 after purchasing an additional 7,178 shares during the period. Royal Bank of Canada increased its position in Golub Capital BDC by 41.4% during the first quarter. Royal Bank of Canada now owns 131,544 shares of the investment management company’s stock worth $1,991,000 after buying an additional 38,534 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Golub Capital BDC in the first quarter valued at approximately $6,491,000. 42.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GBDC. Wall Street Zen upgraded Golub Capital BDC from a “sell” rating to a “hold” rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods cut their price objective on shares of Golub Capital BDC from $16.50 to $15.50 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Bank of America decreased their target price on shares of Golub Capital BDC from $16.50 to $15.50 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, Wells Fargo & Company cut their price target on shares of Golub Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Golub Capital BDC Company Profile

Golub Capital BDC, Inc (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.