GBDC BDC — Golub Capital BDC

Golub Capital BDC (GBDC)

Updated October 16, 2026.

GBDC is a BDC. its distribution rate is 11.39%, its trailing-12-month yield is 11.39%. Dividend Vision Distribution Safety Score™ is 51/100 (Caution). Total return is 231.6% over the past 16.5 years, 510.2 points behind SPY at 741.8%.

At the published price, recorded trailing 12-month cash corresponds to $1,139 per $10,000. Past cash distributions do not establish future income.

Golub Capital BDC is a business development company that provides debt and minority equity financing to middle-market companies, typically those backed by private equity sponsors, across sectors including consumer services, healthcare, technology, and hospitality. The BDC distributes quarterly and currently carries a high distribution rate. This structure appeals to income-focused investors seeking exposure to middle-market lending with regular dividend payments.

GBDC performance versus SPY

Price and return data through 2026-10-16.

Total return is 231.6% over the past 16.5 years, 510.2 points behind SPY at 741.8%. Over the past year its total return — price change plus distributions reinvested — is -1.4%. Its deepest 1-year drawdown was 14.2%.

GBDC key facts

Distribution Safety Score™

51 · Caution

Safety-Adjusted Yield

5.81%

Issuer

Golub Capital

Asset type

BDC

Asset class

Equity

Distribution rate

11.39%

Distribution frequency

Quarterly

Trailing yield

11.39%

5-year average yield

9.19

Last close

$12.12 (stale; as of 2026-10-16)

Market cap

$3,146,977,259

Average volume

885700.0

Dividend

$0.33

Ex-dividend date

09/14/2026

Payment date

09/29/2026

Beta

0.442

Payout ratio

97.2%

P/E ratio

18.36

Forward P/E

9.7656

EPS

$0.66

How Dividend Vision calculates yield and returns

Distribution rate (11.39%) uses trailing 12-month split-adjusted cash distributions; includes specials and supplementals; divided by market price dated 2026-10-16. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (11.39%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Golub Capital; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

GBDC risks and drawbacks

Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 14.2%.

Who may consider GBDC — and who may not

It is a weaker fit for investors who need monthly cash flow (GBDC pays quarterly); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on GBDC

• All tickers starting with G

Tagged: BDC, Dividend.

Frequently asked questions

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