Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
The yield on cost (YOC) is 11.15%.
YIELD ON COST (YOC)
11.15%
GBDC now pays $1.38 per share a year. Measured against the price it actually traded at back then, a long-term holder is earning:
| If you bought | Price then | Yield on cost today |
|---|---|---|
| 10 years ago(2016-10-04) | $18.68 | 7.39% |
| 5 years ago(2021-10-06) | $15.96 | 8.65% |
| 3 years ago(2023-10-03) | $14.14 | 9.76% |
| 1 year ago(2025-10-08) | $13.60 | 10.15% |
| Buying today(at $12.27) | $12.27 | 11.15% |
Projection: starting from today's 11.15% yield, assuming the dividend keeps compounding at 7.4% a year — the recent growth rate of its annual payout. Boards set dividends each year, so actual figures will differ.
Today
11.15%
In 3 years
13.83%
In 5 years
15.97%
In 10 years
22.88%
Try your own purchase price, dividend and growth rate for Golub Capital BDC, Inc. (GBDC).
Starting Yield
11.25%
Ending YOC
24.73%
Year 15 Dividend
$3.03
Cum. Dividends Recd.
$32.32
| Year | Projected Div. / Share | YoY Dividend Hike | Yield on Cost (YOC) | Total Dividends Recd. |
|---|---|---|---|---|
| Initial | $1.38 | N/A | 11.25% | $0.00 |
| Year 1 | $1.45 | +5.39% | 11.86% | $1.45 |
| Year 2 | $1.53 | +5.39% | 12.50% | $2.99 |
| Year 3 | $1.62 | +5.39% | 13.17% | $4.60 |
| Year 4 | $1.70 | +5.39% | 13.88% | $6.31 |
| Year 5 | $1.79 | +5.39% | 14.63% | $8.10 |
| Year 6 | $1.89 | +5.39% | 15.42% | $9.99 |
| Year 7 | $1.99 | +5.39% | 16.25% | $11.98 |
| Year 8 | $2.10 | +5.39% | 17.12% | $14.08 |
| Year 9 | $2.21 | +5.39% | 18.05% | $16.30 |
| Year 10 | $2.33 | +5.39% | 19.02% | $18.63 |
| Year 11 | $2.46 | +5.39% | 20.04% | $21.09 |
| Year 12 | $2.59 | +5.39% | 21.13% | $23.68 |
| Year 13 | $2.73 | +5.39% | 22.26% | $26.41 |
| Year 14 | $2.88 | +5.39% | 23.46% | $29.29 |
| Year 15 | $3.03 | +5.39% | 24.73% | $32.32 |
Yield on cost is the dividend yield measured against your original purchase price, not today's price. As a company raises its dividend, the yield on what you actually paid keeps rising even when the market yield holds steady.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
