Business
Golub Capital BDC, Inc. Announces Preliminary Fiscal Year 2023 Fourth Quarter Financial Results
GBDC Results Driven by Highest-Ever Adjusted Net Investment Income Per Share, Net Realized and Unrealized Gains, and Reduced Management Fee Rate NEW YORK,
About this update from Golub Capital Bdc, Inc.
[{"type":"text","content":"GBDC Results Driven by Highest-Ever Adjusted Net Investment Income Per Share, Net Realized and Unrealized Gains, and Reduced Management Fee Rate\nNEW YORK, Oct. 17, 2023 /PRNewswire/ -- Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced estimated financial results for its fourth fiscal quarter ended September 30, 2023. The Company has elected to provide these preliminary estimated results in connection with the previously announced reduction of the base management fee from 1.375% to 1.0% of average adjusted gross assets.\n\n\"GBDC's strong preliminary results for the quarter validate our confidence in the Company's earnings power. GBDC's Adjusted Net Investment Income per share was its highest ever, in part due to the previously announced permanent reduction in the base management fee rate. Credit quality remained strong, resulting in a net realized and unrealized gain on investments for the quarter and an improvement in non-accrual ratios. GBDC's increased profitability, coupled with strong credit results, allowed NAV to increase even as distributions to shareholders also increased. 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.\nSet forth in the table below are certain preliminary estimates of our financial condition and results of operations for the three months ended September 30, 2023. These estimates are subject to the completion of financial closing procedures and are not a comprehensive statement of the Company's financial results for the three months ended September 30, 2023. Actual results may differ materially from these estimates as a result of the completion of our financial closing procedures, final adjustments and other developments arising between now and the time that financial quarterly results for the three months ended September 30, 2023 are finalized. These preliminary estimates have been prepared by, and are the responsibility of, management. Our independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect t...