Goldman Sachs BDC Q2 NII Beats at $0.38, NAV Dips to $12.06; Declares $0.32 Base Dividend
GSBD is trading near its 52-week low of $8.355 (9.8% above the low).
Summary
Goldman Sachs BDC reported Q2 net investment income of $0.38 per share, beating the prior quarter's $0.22 and covering the $0.32 base dividend. Adjusted NII was $0.37, an annualized 12.3% yield on book value. NAV per share slipped 0.9% to $12.06, reflecting $18.6 million in net realized and unrealized losses. Non-accruals improved as a percentage of fair value to 2.9% from 3.2%, helped by restructuring Chase Industries and returning Thrasio to accrual, though Wine.com was added. The board declared a $0.32 base dividend for Q3 and a $0.03 supplemental for Q2, signaling confidence in earnings. Leverage declined to 1.35x and is now below the 1.25x target, aided by repayments, and a new $75 million buyback program adds potential support.
At the time of this announcement, GSBD was trading at $9.17 on NYSE in the Finance sector, with a market capitalization of approximately $1B. The 52-week trading range was $8.36 to $11.62. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.