Goldman Sachs BDC: Does Its Dividend Yield Make It A Buy?

  • GSBD offers a 10.85% base dividend yield. This yield is being expanded with special and supplemental dividends. Fiscal 2025 first quarter earnings saw dual misses and a decline in NAV per share, with net investment income unable to fully cover the aggregate dividend payouts. The portfolio remains defensive with low non-accruals, but negative net funded investment activity and falling rates threaten future total investment income.