Golub Capital BDC: A Solid Quarter But Worse Under The Hood

tadamichi In this article, we catch up on the latest quarterly results of the Golub Capital BDC (NASDAQ:GBDC). The company delivered a strong quarterly result with a 4.8% total NAV return. It trades at an 11.3% total dividend yield and a 3 discount to book. Its net income yield is 12.5% - in line with the sector median but, arguably, overstated due to the one-off incentive fee waiver. We have maintained a Hold rating on the stock - our previous review is linked here. The valuation of the stock has impro ...