Net Asset Value Per Common Share Holds Steady at $15.00 Amid Impressive Financial Performance
Golub Capital Direct Lending Unlevered Corporation and its subsidiaries have announced their consolida ted financial results for the second quarter of 2023, revealing a remarkable surge in net income and revenue. The financial report indicates robust growth in investment income, demonstrating the company's successful investment strategies in the current economic landscape. Notably, the net asset value per common share remains stable at $15.00, reflecting the company's prudent management and operational efficiency.
During the three months ended June 30, 2023, Golub Capital Direct Lending achieved a net increase in net assets resulting from operations of $2,322,831. This represents a substantial improvement compared to the same period in the previous year when the company reported a net increase of $63,862. The company's net investment income for the quarter reached $2,047,773 after taxes, showcasing a substantial rise compared to the second quarter of 2022.
Revenue
The company's investment income surged during the second quarter of 2023, underscoring its successful investment portfolio. Interest income reached $2,377,926, a significant increase from the $79,932 reported during the same period in 2022. Payment-in-kind interest income also contributed positively, totaling $209,676 for the quarter, compared to no such income in the previous year. Dividend income stood at $12,820, further adding to the company's revenue stream. Fee income also played a role in bolstering revenue, contributing $5,319 for the quarter.
Financial Highlights
- Investment income during Q2 2023: $2,605,741 (compared to $80,111 in Q2 2022)
- Net investment income after tax for Q2 2023: $2,047,773 (compared to $80,111 in Q2 2022)
- Net increase in net assets resulting from operations in Q2 2023: $2,322,831 (compared to $63,862 in Q2 2022)
- Net asset value per common share: $15.00 (unchanged from previous periods)
- Total cash and cash equivalents and foreign currencies as of June 30, 2023: $11,481,537 (compared to $14,629,597 as of September 30, 2022)
The impressive financial performance of Golub Capital Direct Lending Unlevered Corporation underscores the effectiveness of its investment strategies and prudent financial management. As the company continues to navigate the evolving economic landscape, its stable net asset value per common share reflects its commitment to delivering value to shareholders while maintaining operational excellence.