Business
Golub Capital BDC, Inc. Announces Preliminary Fiscal Year 2024 First Quarter Financial Results and Declares Increased Quarterly Distribution to $0.39 Per Share
NEW YORK--(BUSINESS WIRE)-- Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced estimated financial results for its first
About this update from Golub Capital Bdc, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nGolub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced estimated financial results for its first fiscal quarter ended December 31, 2023. The Company has elected to provide these preliminary estimated results in connection with the announcement of the increase in the base quarterly distribution to $0.39 per share from $0.37 per share and the agreement by GC Advisors LLC, GBDC’s investment adviser, to unilaterally waive incentive fees to reduce the income and capital gain incentive fee rates from 20.0% to 15.0%.\n\n\n“GBDC’s strong preliminary results for the quarter validate our confidence in the Company’s earnings power. GBDC continued to generate record Adjusted Net Investment Income per share and credit quality remained strong. GBDC’s increased profitability, coupled with strong credit results, allowed NAV to increase even as distributions to shareholders also increased,” said Chief Executive Officer David Golub.\n\n\nExcept where the context suggests otherwise, the terms “GBDC”, “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.\n\n\nSet forth in the table below are certain preliminary estimates of our financial condition and results of operations for the three months ended December 31, 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 December 31, 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 December 31, 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 to such preliminary estimates, and, accordingly, does not express an opinion or any other form of assurance with respect thereto.\n\n\n\n\nPRELIMINARY ESTIMATES OF CERTAIN FINANCIAL RESULTS\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n...