SmarterDividends
GBDC

Golub Capital BDC, Inc.

GBDC

Financial Services · Asset Management · Stock · quarterly payer

$12.12

Fairly valued · +15% Add to Portfolio

Forward Yield

10.89%

Annual Dividend

$1.32

Payout Ratio

218%

5-Yr Growth

5.5%

Ex-Date

Sep 14, 2026

Frequency

Quarterly

Key facts about GBDC's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, Golub Capital BDC, Inc. (GBDC) has a forward dividend yield of 10.89%, based on an annual dividend of $1.32 per share and a share price of $12.12.
  • As of Oct 18, 2026, GBDC's dividend safety grade from SmarterDividends is D (41 out of 100), which rates the dividend as unsafe.
  • GBDC last cut its regular dividend in 2023.
  • GBDC's most recent ex-dividend date was Sep 14, 2026, for a dividend of $0.33 per share.
  • As of Oct 18, 2026, GBDC pays out 218% of its trailing 12-month earnings as dividends (its payout ratio).
  • GBDC's dividend has grown at an average rate of 5.5% a year over the past five years.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for GBDC is $13.93 per share, 15% above the $12.12 share price, so GBDC screens as fairly valued.
  • Golub Capital BDC, Inc. (GBDC) pays its dividend quarterly, 4 times a year.
  • Golub Capital BDC, Inc. (GBDC) has raised its regular dividend 9 times and cut it 3 times across the 73 payments on record since 2010. Its most recent change was a 15.4% cut to $0.330 per share, going ex-dividend on Mar 13, 2026.
Cite this page

SmarterDividends, "GBDC Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/GBDC

Summary

As of Oct 18, 2026, Golub Capital BDC, Inc. (GBDC) yields 10.89% ($1.32 a year per share) and has a dividend safety grade of D (41/100).

Is GBDC a good dividend stock?

Higher risk

Golub Capital BDC, Inc. (GBDC) pays a quarterly dividend yielding 10.89% ($1.32/yr), with 1 year of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.

Advantages

  • Strong 5.5% 5-yr dividend growth

Risks

  • Cut its dividend in 2023
  • Elevated payout ratio (218%)
  • Very high yield can signal elevated risk
  • Share price is down over the past 5 years
  • Below-average dividend safety score

Key Data

Dividend Yield
10.89%
Payout Ratio
218%
Annual Dividend
$1.32
5-Yr Avg Growth
5.5%
Ex-Dividend Date
Sep 14, 2026
Years of Growth
1
Frequency
quarterly
Beta
0.44
Market Cap
$3.1B
P/E Ratio
18.4
5-Yr Total Return
-20%
52-Week Range
$11.77 – $14.41
Dividend Safety
D · 41/100
Ever Cut?
Yes (2023)

GBDC dividend raises and cuts

Golub Capital BDC, Inc. (GBDC) has raised its regular dividend 9 times and cut it 3 times across the 73 payments on record since 2010. Its most recent change was a 15.4% cut to $0.330 per share, going ex-dividend on Mar 13, 2026.

Ex-dateChangeOld → newMove
Mar 13, 2026Cut$0.390 → $0.330−15.4%
Aug 30, 2024Raise$0.100 → $0.390+290.0%
Aug 16, 2024Raise$0.0600 → $0.100+66.7%
May 15, 2024Cut$0.390 → $0.0600−84.6%
Feb 29, 2024Raise$0.370 → $0.390+5.4%
Aug 31, 2023Raise$0.330 → $0.370+12.1%
Dec 8, 2022Raise$0.300 → $0.330+10.0%
Dec 9, 2021Raise$0.290 → $0.300+3.4%
Jun 8, 2020Cut$0.323 → $0.290−10.3%
Mar 5, 2020Raise$0.313 → $0.323+3.1%
Mar 16, 2011Raise$0.304 → $0.313+3.2%
Sep 8, 2010Raise$0.235 → $0.304+29.2%
Every GBDC payment →Download every raise and cut (CSV)
GBDC ex-dividend date & scheduleNext ex-date Sep 14, 2026 · full ex-dividend historyView →GBDC dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is GBDC a good dividend stock?

Higher risk. Golub Capital BDC, Inc. (GBDC) pays a quarterly dividend yielding 10.89% ($1.32/yr), with 1 year of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.

Is GBDC undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, GBDC's fair value is about $13.93 versus a $12.12 share price — so it looks fairly valued (+15% vs. fair value).

Is GBDC's dividend safe?

GBDC has a dividend-safety grade of D (41/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is GBDC's fair value?

Our blended fair-value estimate for GBDC is about $13.93 per share, roughly 15% above the current $12.12 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is GBDC a buy, hold, or sell?

We don't issue formal ratings, but on the data GBDC screens as "higher risk" and fairly valued. Golub Capital BDC, Inc. (GBDC) pays a quarterly dividend yielding 10.89% ($1.32/yr), with 1 year of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk. This is research for your own analysis, not investment advice.

Will GBDC cut its dividend?

GBDC earns a dividend-safety grade of D (41/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does GBDC pay a dividend?

Yes. Golub Capital BDC, Inc. pays a quarterly dividend of about $1.32 per share annually, a forward yield of roughly 10.89%.

What is GBDC's dividend yield?

As of Oct 18, 2026, GBDC's forward dividend yield is 10.89%, based on a $1.32 annual dividend and a $12.12 share price.

What is GBDC's dividend per share?

As of Oct 18, 2026, GBDC pays $1.32 per share per year, distributed on a quarterly basis.

What is GBDC's dividend payout ratio?

As of Oct 18, 2026, GBDC's payout ratio is 218% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has GBDC grown its dividend?

As of Oct 18, 2026, GBDC has increased its dividend for 1 consecutive years.

When is the next GBDC ex-dividend date?

As of Oct 18, 2026, GBDC's next ex-dividend date hasn't been announced. The most recent was Sep 14, 2026, for $0.33 per share.

Income Calculator

At $1.32 / yr per share

Per payment (quarterly)$33.00
Annual$132.00
Monthly avg$11.00

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