Business
Golub Capital BDC, Inc. Announces Fiscal Year 2023 Third Quarter Financial Results with Record Adjusted Net Investment Income
Declares Increased Quarterly Distribution to $0.37 Per Share and a Third Quarter Supplemental Distribution of $0.04 Per Share Announces Management Fee
About this update from Golub Capital Bdc, Inc.
[{"type":"text","content":"Declares Increased Quarterly Distribution to $0.37 Per Share and a Third Quarter Supplemental Distribution of $0.04 Per Share \nAnnounces Management Fee Reduction\nNEW YORK, Aug. 7, 2023 /PRNewswire/ -- Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced its financial results for its third fiscal quarter ended June 30, 2023 with record Adjusted Net Investment Income of $0.44 per share.\n\"This was an excellent quarter for GBDC's shareholders: record Adjusted Net Investment Income, strong credit results, a more than 12% increase in the base quarterly distribution to $0.37 per share, a supplemental distribution of $0.04 per share as part of a new variable supplemental distribution framework and a permanent reduction in the base management fee from 1.375% of assets to 1.0% of assets. We believe GBDC is well-positioned to continue to thrive in the coming period,\" said Chief Executive Officer David Golub.\nExcept where the context suggests otherwise, the terms \"we,\" \"us,\" \"our,\" and \"Company\" refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. \"GC Advisors\" refers to GC Advisors LLC, our investment adviser.\nSELECTED FINANCIAL HIGHLIGHTS\n(in thousands, expect per share data)\nJune 30, 2023\nMarch 31, 2023\nInvestment portfolio, at fair value\n$ 5,525,009\n$ 5,486,352\nTotal assets\n$ 5,736,835\n$ 5,671,750\nNet asset value per share\n$ 14.83\n$ 14.73\nQuarter Ended\nJune 30, 2023\nMarch 31, 2023\nNet investment income per share\n$ 0.43\n$ 0.41\nAmortization of purchase premium per share\n0.01\n0.01\nAdjusted net investment income per share1\n$ 0.44\n$ 0.42\nAccrual (reversal) for capital gain incentive fee per share\n—\n—\nAdjusted net investment income before accrual for capital gain incentive fee per share1\n$ 0.44\n$ 0.42\nNet realized/unrealized gain/(loss) per share\n$ 0.00 *\n$ (0.07)\nReversal of realized / unrealized loss resulting from the purchase premium per share\n(0.01)\n(0.01)\nAdjusted net realized/unrealized gain/(loss) per share1\n$ (0.01)\n$ (0.08)\nEarnings/(loss) per share\n$ 0.43\n$ 0.34\nAdjusted earnings/(loss) per share1\n$ 0.43\n$ 0.34\nNet asset value per share\n$ 14.83\n$ 14.73\nDistributions paid per share\n$ 0.33\n$ 0.33\n*\nRepresents an amount less than $0.01\n1 \nOn September 16, 2019, the Company completed its acquisition of Golub Capital...