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

Golub Capital BDC, Inc. (NASDAQ:GBDC) announced a quarterly dividend on Friday, August 2nd, NASDAQ reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.39 per share by the investment management company on Friday, September 27th. This represents a $1.56 annualized dividend and a yield of 10.37%. The ex-dividend date is Friday, August 30th.

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 fall. Research analysts expect Golub Capital BDC to earn $1.81 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 86.2%.

Golub Capital BDC Price Performance

GBDC traded down $0.05 during midday trading on Wednesday, hitting $15.05. The stock had a trading volume of 803,232 shares, compared to its average volume of 1,112,037. The company has a market cap of $2.58 billion, a P/E ratio of 7.41 and a beta of 0.52. The business has a fifty day moving average of $15.28 and a 200 day moving average of $15.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 6.29 and a current ratio of 6.29. Golub Capital BDC has a 1 year low of $13.95 and a 1 year high of $17.72.

Golub Capital BDC (NASDAQ:GBDC) last issued its earnings results on Monday, August 5th. The investment management company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $171.27 million during the quarter, compared to analysts’ expectations of $205.24 million. Golub Capital BDC had a return on equity of 13.03% and a net margin of 53.05%. During the same period in the prior year, the company earned $0.44 EPS. As a group, equities analysts forecast that Golub Capital BDC will post 1.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GBDC has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their price objective on Golub Capital BDC from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price objective on shares of Golub Capital BDC in a research report on Wednesday, August 7th. Raymond James downgraded Golub Capital BDC from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 8th. Wells Fargo & Company lowered their price objective on Golub Capital BDC from $15.50 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded Golub Capital BDC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.40.

Insider Activity at Golub Capital BDC

In other Golub Capital BDC news, Director Anita J. Rival bought 26,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $14.40 per share, for a total transaction of $374,400.00. Following the completion of the acquisition, the director now directly owns 95,000 shares in the company, valued at $1,368,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Golub purchased 20,000 shares of Golub Capital BDC stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average cost of $14.70 per share, with a total value of $294,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,758,880 shares in the company, valued at $25,855,536. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita J. Rival purchased 26,000 shares of Golub Capital BDC stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $14.40 per share, for a total transaction of $374,400.00. Following the completion of the purchase, the director now owns 95,000 shares of the company’s stock, valued at $1,368,000. The disclosure for this purchase can be found here. Insiders acquired a total of 667,015 shares of company stock worth $10,598,138 over the last quarter. 2.70% of the stock is owned by corporate insiders.

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.