Samuel Smith has a diverse background that includes being lead analyst and Vice President at several highly regarded dividend stock research firms and running his own dividend investing YouTube channel. He is a Professional Engineer and Project Management Professional and holds a B.S. in Civil Engineering & Mathematics from the United States Military Academy at West Point and has a Masters in Engineering from Texas A&M with a focus on applied mathematics and machine learning.Samuel leads the High Yield Inve ...

Core Viewpoint - Golub Capital BDC, Inc. is set to report its financial results for the quarter and year ending September 30, 2025, on November 18, 2025, after market close [1] - An earnings conference call will be held on November 19, 2025, at 10:00 a.m. Eastern Time to discuss the quarterly financial results [1] Financial Reporting - The financial results will cover the quarter and year ended September 30, 2025 [1] - The announcement of the earnings conference call indicates a structured approach to communicate financial performance to stakeholders [1]

[Filing Information](index=1&type=section&id=Filing%20Information) This section provides essential details about the registrant, Golub Capital BDC, Inc., including its incorporation, executive offices, and securities trading information [Registrant Information](index=1&type=section&id=Registrant%20Information) This section identifies Golub Capital BDC, Inc. as the registrant, a Delaware corporation, and provides its principal executive offices address and telephone number - Registrant: **Golub Capital BDC, Inc.**[1](index=1&type=chunk) - Jurisdiction of Incorporation: **Delaware**[1](index=1&type=chunk) - Principal Executive Offices: **200 Park Avenue, 25th Floor, New York, NY 10166**[1](index=1&type=chunk) [Securities Information](index=1&type=section&id=Securities%20Information) The registrant's Common Stock is traded on The Nasdaq Global Select Market under the symbol GBDC, and the company is not an emerging growth company Common Stock Listing Details | Title of each class | Trading Symbol | Name of each exchange on which registered | | :------------------------------ | :------------- | :---------------------------------------- | | Common Stock, par value $0.001 per share | GBDC | The Nasdaq Global Select Market | - The registrant is not an emerging growth company[3](index=3&type=chunk) [Current Report Items](index=3&type=section&id=Current%20Report%20Items) This section details the announcement of financial results and lists the exhibits accompanying the Form 8-K filing [Item 2.02. Results of Operations and Financial Condition](index=3&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition) Golub Capital BDC, Inc. announced it will release financial results for the quarter and year ended September 30, 2025, on November 18, 2025, after market close, with a press release furnished as Exhibit 99.1 - Golub Capital BDC, Inc. will release financial results for the quarter and year ended September 30, 2025, on **Tuesday, November 18, 2025**, after the close of financial markets[4](index=4&type=chunk) - A press release (Exhibit 99.1) announcing the financial results release is attached[4](index=4&type=chunk) - The information in Item 2.02 and Exhibit 99.1 is furnished and not deemed 'filed' under Section 18 of the Securities Exchange Act of 1934[5](index=5&type=chunk) [Item 9.01. Financial Statements and Exhibits](index=3&type=section&id=Item%209.01.%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits accompanying the Form 8-K, including the press release regarding financial results and the Cover Page Interactive Data File List of Exhibits | Exhibit Number | Description | | :------------- | :--------------------------------------------------------- | | 99.1 | Press release of Golub Capital BDC, Inc., dated as of October 7, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [SIGNATURES](index=4&type=section&id=SIGNATURES) The report was duly signed on behalf of Golub Capital BDC, Inc. by Christopher C. Ericson, Chief Financial Officer, on October 7, 2025 - The report was signed by **Christopher C. Ericson, Chief Financial Officer**[10](index=10&type=chunk) - Date of signature: **October 7, 2025**[10](index=10&type=chunk)

Core Insights - The article emphasizes the importance of a hybrid investment strategy that combines classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1]. Investment Strategy - The investment approach focuses on high-quality dividend stocks and assets that provide long-term growth potential, which can significantly contribute to income generation [1]. - The strategy aims to create a balanced portfolio that captures total returns on par with the S&P index, indicating a blend of growth and income [1].

Core Insights - The article emphasizes the importance of a hybrid investment strategy that combines classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1]. Group 1: Investment Strategy - A solid base of classic dividend growth stocks is essential for long-term growth and income generation [1]. - Incorporating a mix of different asset types can lead to a highly efficient investment income strategy [1]. - The total return achieved through this hybrid system is on par with the S&P index, indicating its effectiveness [1].

Core Viewpoint - Golub Capital BDC, Inc. has announced a public offering of $250 million in 7.050% notes due 2028, indicating a strategic move to raise capital for future investments [1] Group 1 - The company has priced an underwritten public offering of an additional $250 million in aggregate principal amount of notes [1] - The notes will mature on December 5, 2028, providing a long-term financing option for the company [1] - The company has the option to redeem the notes in whole or in part at any time prior to November 5, 2028, at par plus a "make-whole" premium [1]

Core Viewpoint - Golub Capital BDC (NASDAQ:GBDC) had a quarter that met expectations, with a slight outperformance in adjusted net investment income (NII) and a minor decrease in net asset value (NAV), indicating stability in the company's financial performance [1][2][10]. Financial Performance - GBDC recorded a combined net realized loss and unrealized depreciation of $11 million in Q2 2025, which was better than the projected loss of $20 million [2]. - The investment portfolio size increased by $340 million during Q2 2025, primarily due to $557 million in loan originations, resulting in a 4.0% quarterly increase [5]. - Adjusted NII showed a very minor increase compared to expectations, with a variance of $0.013 [12]. Yield and Income - GBDC reported a weighted average annualized yield of 10.30% in Q2 2025, a slight decrease from 10.50% in Q1 2025 [6]. - The company did not waive any income incentive fees during Q2 2025, contrasting with previous quarters where fees were waived [7]. Non-Accrual Status - No new portfolio companies were placed on non-accrual status during Q2 2025, maintaining the total at nine companies, which accounted for 1.2% of the investment portfolio based on amortized cost [17][18]. Dividend and Valuation - GBDC declared an unchanged base dividend of $0.39 per share for Q3 2025, indicating confidence in maintaining dividend levels [19]. - The company is currently trading at a slight discount to its NAV, with a HOLD recommendation reflecting appropriate valuation [22].

Core Viewpoint - Golub Capital BDC (NASDAQ:GBDC) had a quarter that met expectations, with a likely safe dividend for 2025 and trading at a slight discount to NAV, placing it in a "hold" range [1] Financial Performance - GBDC experienced a minor quarterly NAV decrease, aligning with expectations, and reported a combined net realized loss and unrealized depreciation of $11 million for Q2 2025, compared to a projected loss of $20 million [2] - The investment portfolio size increased by $340 million during Q2 2025, primarily due to $557 million in loan originations, resulting in a 4.0% quarterly increase [5] - Adjusted NII slightly outperformed expectations, with a minor quarterly increase compared to a projected decrease [4] Yield and Income - GBDC reported a weighted average annualized yield of 10.30% for Q2 2025, a slight decrease from 10.50% in Q1 2025, which matched expectations [6] - The company did not waive any income incentive fees during Q2 2025, contrasting with previous quarters where fees were waived [7] Debt Management - GBDC's recent debt refinancing and amendments are expected to improve NII/adjusted NII in future quarters, with a reduction in effective margin/spread [8] - The company repurchased 2.4 million shares at an average price of $13.99 during market volatility in April 2025, contributing to minor NAV accretion [3] Non-Accrual Status - No new portfolio companies were placed on non-accrual status during Q2 2025, maintaining the total at 9 companies, which accounted for 1.2% of the investment portfolio based on amortized cost [18][17] Dividend Outlook - GBDC declared an unchanged base dividend of $0.39 per share for Q3 2025, with no notable risk of a decrease in the current quarterly base dividend during 2025 [19][20] Valuation - GBDC is currently valued at a slight discount to its NAV, with a HOLD recommendation based on appropriate valuation [22]

Core Insights - The article discusses the author's transition from a career in publishing to finance, emphasizing the importance of building an income portfolio using ETFs and CEFs [1]. Group 1 - The author graduated in Languages in 1988 and worked as an editor for 25 years before shifting focus to finance in 2005 [1]. - After losing a job in 2013, the author dedicated efforts to creating an income portfolio, highlighting the use of ETFs and CEFs as investment vehicles [1].

Summary of Golub Capital BDC Quarterly Results Core Viewpoint - Golub Capital BDC (NASDAQ: GBDC) reported a solid quarterly performance with a total NAV return of 2.4% and offers a dividend yield of 10.55% [1] Financial Performance - The company achieved a total NAV return of 2.4% for the quarter [1] - The dividend yield stands at 10.55%, indicating a strong income generation capability [1]