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IRDEF vs GBDC: Dividend Comparison 2026

IRDEF yields 5.75% · GBDC yields 11.86%● Live data

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After 10 years · $10,000 invested · DRIP enabled
🏆 GBDC wins by $20.75M in total portfolio value
10 years
IRDEF
IRDEF
● Live price
5.75%
Share price
$2.61
Annual div
$0.15
5Y div CAGR
27.9%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$95.7K
Annual income
$24,412.72
Full IRDEF calculator →
GBDC
GBDC
● Live price
11.86%
Share price
$12.65
Annual div
$1.50
5Y div CAGR
51.1%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$20.85M
Annual income
$16,450,733.83
Full GBDC calculator →

Portfolio growth — IRDEF vs GBDC

📍 GBDC pulled ahead of the other in Year 1

Annual dividend income

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Recession Test — Did They Cut Dividends?

How each stock treated shareholders during the 3 biggest crises of the last 20 years

Crisis PeriodIRDEFGBDC
2008–2009
GFC
— No data— No data
2020 Q1–Q2
COVID
— No data— No data
2022 Q4
Rate Hike
— No data— No data
Based on dividend payment history. "Increased" = dividend grew during crisis. "Maintained" = held within 3%. "Cut" = reduced by more than 3%.
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Dividend Calendar Overlap

Combined, IRDEF + GBDC cover 0 of 12 monthsgood coverage

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
IRDEF pays
GBDC pays
Both pay
Neither
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Tax Bracket Optimizer

Which stock is actually better after tax? Adjust your rate to find out.

IRDEF
Annual income on $10K today (after 15% tax)
$489.16/yr
After 10yr DRIP, annual income (after tax)
$20,750.81/yr
GBDC
Annual income on $10K today (after 15% tax)
$1,007.91/yr
After 10yr DRIP, annual income (after tax)
$13,983,123.76/yr
At 15% tax rate, GBDC beats the other by $13,962,372.94/year in after-tax income after 10 years on $10,000
⚖️

Lazy Portfolio Split Optimizer

What's the optimal mix of IRDEF + GBDC for your $10,000?

IRDEF: 50%GBDC: 50%
100% GBDC50/50100% IRDEF
Portfolio after 10yr
$10.47M
Annual income
$8,237,573.28/yr
Blended yield
78.66%
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Analyst Conviction Gap

Where Wall Street is most bullish on GBDC right now

IRDEF
No analyst data
Altman Z
0.9
Piotroski
7/9
GBDC
Analyst Ratings
6
Buy
5
Hold
Consensus: Buy
Price Target
$14.00
+10.7% upside vs current
Range: $13.00 — $15.00
Altman Z
0.6
Piotroski
6/9
Analyst ratings via FMP. Altman Z-Score: >3.0 safe, 1.81–3.0 grey zone, <1.81 distress. Piotroski: 7–9 strong, 0–3 weak.
🏛️

Copy Congress — What Are Politicians Buying?

Senate & House STOCK Act disclosures (last 90 days)

IRDEF buys
0
GBDC buys
0
No recent congressional trades found for IRDEF or GBDC in the last 90 days.
STOCK Act mandates disclosure within 45 days of transaction. Data via FMP.Full tracker →
MetricIRDEFGBDC
Forward yield5.75%11.86%
Annual dividend / share$0.15$1.50
Payout ratio50%50%
1-year div growth0%0%
5-year div CAGR27.9%51.1%
Portfolio after 10y$95.7K$20.85M
Annual income after 10y$24,412.72$16,450,733.83
Total dividends collected$66.7K$20.43M
Payment frequencyquarterlyquarterly
SectorStockBDC

Year-by-year: IRDEF vs GBDC ($10,000, DRIP)

YearIRDEF PortfolioIRDEF Income/yrGBDC PortfolioGBDC Income/yrGap
1← crossover$11,436$736.04$12,492$1,791.70$1.1KGBDC
2$13,243$1,006.15$16,527$3,160.58$3.3KGBDC
3$15,562$1,392.68$23,588$5,904.90$8.0KGBDC
4$18,608$1,956.30$37,141$11,901.65$18.5KGBDC
5$22,707$2,796.07$66,205$26,463.38$43.5KGBDC
6$28,375$4,078.38$137,452$66,612.65$109.1KGBDC
7$36,453$6,091.85$342,372$195,298.53$305.9KGBDC
8$48,359$9,354.83$1,053,292$686,954.33$1.00MGBDC
9$66,579$14,834.48$4,111,439$2,984,416.95$4.04MGBDC
10$95,652$24,412.72$20,849,974$16,450,733.83$20.75MGBDC

IRDEF vs GBDC: Complete Analysis 2026

IRDEFStock

Iren SpA, together with its subsidiaries, operates as a multi-utility company in Italy. It operates through Networks, Waste Management, Energy, Market, and Other Services segments. The company produces and distributes electricity primarily from hydroelectric, thermoelectric, cogeneration, and other renewables, as well as distributes natural gas. It distributes electrical energy through 7,849 kilometers of medium and low voltage networks to approximately 725,000 connected users; and natural gas through its network of approximately 8,115 kilometers of high, medium, and low-pressure pipes to approximately 741,000 customers. The company also operates integrated water cycle, which includes 20,088 kilometers of pipeline networks that serve 2.8 million residents; 11,291 kilometers of sewerage networks; and operates treatment plants. In addition, it is involved in the provision of services related to street lighting systems, traffic light systems, heating systems, and electrical and special systems; collection and disposal of waste; snow clearing services; and analysis laboratories, telecommunications, and other services. It operates 23 hydroelectric plants, 7 thermoelectric cogeneration systems, and 1 thermoelectric plant, as well as 95 photovoltaic production plants with an installed capacity of 18 MW. Iren SpA is based in Reggio Emilia, Italy.

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GBDCBDC

Golub Capital BDC, Inc. (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors. It typically invests in diversified consumer services, automobiles, healthcare technology, insurance, health care equipment and supplies, hotels, restaurants and leisure, healthcare providers and services, IT services and specialty retails. It seeks to invest in the United States. It primarily invests in first lien traditional senior debt, first lien one stop, junior debt and equity, senior secured, one stop, unitranche, second lien, subordinated and mezzanine loans of middle-market companies, and warrants.

Full GBDC Calculator →
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⚠️ Educational purposes only. Not financial advice. Congressional trades sourced from SEC STOCK Act filings via FMP. Past performance does not guarantee future results.