Golub Capital: A Dividend Cut Is Still Likely

Core Viewpoint - The stock classification of Golub Capital BDC (NASDAQ: GBDC) has been changed from 'Buy' to 'Hold' due to a concerning rise in its dividend pay-out ratio above 120% [1] Summary by Relevant Sections - Dividend Pay-out Ratio: The company has experienced a significant increase in its dividend pay-out ratio, which now exceeds 120%, indicating potential financial strain [1] - Investment Perspective: The article reflects a cautious stance on GBDC, suggesting that the current financial metrics warrant a more conservative investment approach [1] - Research Focus: The analysis emphasizes the importance of monitoring financial health indicators such as dividend sustainability in assessing investment opportunities [1]