Golub Capital BDC, Inc. to Issue Quarterly Dividend of $0.30 (NASDAQ:GBDC)

Golub Capital BDC, Inc. (NASDAQ:GBDC – Get Rating) declared a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Investors of record on Friday, June 3rd will be given a dividend of 0.30 per share by the investment management company on Wednesday, June 29th. This represents a $1.20 annualized dividend and a yield of 8.37%. The ex-dividend date is Thursday, June 2nd.

Golub Capital BDC has decreased its dividend payment by an average of 5.8% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Golub Capital BDC has a dividend payout ratio of 98.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Golub Capital BDC to earn $1.23 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 97.6%.

Golub Capital BDC stock opened at $14.33 on Friday. The company’s 50 day simple moving average is $15.11 and its 200 day simple moving average is $15.35. Golub Capital BDC has a fifty-two week low of $14.32 and a fifty-two week high of $16.23. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 8.58 and a beta of 0.56. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.55 and a quick ratio of 7.49.

Golub Capital BDC (NASDAQ:GBDC – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The investment management company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. Golub Capital BDC had a net margin of 86.36% and a return on equity of 7.67%. The business had revenue of $85.90 million for the quarter, compared to analyst estimates of $92.16 million. During the same quarter last year, the firm earned $0.29 EPS. Golub Capital BDC’s quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts predict that Golub Capital BDC will post 1.22 EPS for the current fiscal year.

Several research analysts recently weighed in on GBDC shares. Zacks Investment Research lowered shares of Golub Capital BDC from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Wells Fargo & Company raised their target price on shares of Golub Capital BDC from $17.00 to $17.50 and gave the stock an “overweight” rating in a report on Monday, April 25th. Finally, StockNews.com initiated coverage on shares of Golub Capital BDC in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $17.17.

Several hedge funds and other institutional investors have recently bought and sold shares of GBDC. Royal Bank of Canada raised its holdings in shares of Golub Capital BDC by 25.8% in the third quarter. Royal Bank of Canada now owns 58,596 shares of the investment management company’s stock valued at $926,000 after purchasing an additional 12,000 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Golub Capital BDC by 23.1% in the third quarter. Bank of New York Mellon Corp now owns 48,908 shares of the investment management company’s stock valued at $773,000 after purchasing an additional 9,187 shares during the last quarter. Northern Trust Corp acquired a new stake in shares of Golub Capital BDC in the fourth quarter valued at approximately $158,000. LPL Financial LLC raised its holdings in shares of Golub Capital BDC by 14.7% in the fourth quarter. LPL Financial LLC now owns 241,781 shares of the investment management company’s stock valued at $3,733,000 after purchasing an additional 31,011 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Golub Capital BDC by 195.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 348,235 shares of the investment management company’s stock worth $5,377,000 after buying an additional 230,188 shares during the last quarter. Institutional investors own 44.01% of the company’s stock.

About Golub Capital BDC (Get Rating)

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.

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