HomeCompareSPLP vs GBDC

SPLP vs GBDC: Dividend Comparison 2026

SPLP yields 3.00% · GBDC yields 11.86%● Live data

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After 10 years · $10,000 invested · DRIP enabled
🏆 GBDC wins by $20.83M in total portfolio value
10 years
SPLP
SPLP
● Live price
3.00%
Share price
$50.05
Annual div
$1.50
5Y div CAGR
0%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$24.2K
Annual income
$363.54
Full SPLP 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 — SPLP 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 PeriodSPLPGBDC
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, SPLP + GBDC cover 0 of 12 monthsgood coverage

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
SPLP pays
GBDC pays
Both pay
Neither
💰

Tax Bracket Optimizer

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

SPLP
Annual income on $10K today (after 15% tax)
$254.75/yr
After 10yr DRIP, annual income (after tax)
$309.01/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 $13,982,814.75/year in after-tax income after 10 years on $10,000
⚖️

Lazy Portfolio Split Optimizer

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

SPLP: 50%GBDC: 50%
100% GBDC50/50100% SPLP
Portfolio after 10yr
$10.44M
Annual income
$8,225,548.69/yr
Blended yield
78.81%
📊

Analyst Conviction Gap

Where Wall Street is most bullish on GBDC right now

SPLP
No analyst data
Altman Z
1.3
Piotroski
8/9
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)

SPLP buys
0
GBDC buys
0
No recent congressional trades found for SPLP or GBDC in the last 90 days.
STOCK Act mandates disclosure within 45 days of transaction. Data via FMP.Full tracker →
MetricSPLPGBDC
Forward yield3.00%11.86%
Annual dividend / share$1.50$1.50
Payout ratio50%50%
1-year div growth0%0%
5-year div CAGR0%51.1%
Portfolio after 10y$24.2K$20.85M
Annual income after 10y$363.54$16,450,733.83
Total dividends collected$3.3K$20.43M
Payment frequencyquarterlyquarterly
SectorStockBDC

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

YearSPLP PortfolioSPLP Income/yrGBDC PortfolioGBDC Income/yrGap
1← crossover$11,000$299.70$12,492$1,791.70$1.5KGBDC
2$12,078$308.09$16,527$3,160.58$4.4KGBDC
3$13,239$316.16$23,588$5,904.90$10.3KGBDC
4$14,490$323.89$37,141$11,901.65$22.7KGBDC
5$15,836$331.30$66,205$26,463.38$50.4KGBDC
6$17,283$338.38$137,452$66,612.65$120.2KGBDC
7$18,837$345.14$342,372$195,298.53$323.5KGBDC
8$20,508$351.58$1,053,292$686,954.33$1.03MGBDC
9$22,301$357.71$4,111,439$2,984,416.95$4.09MGBDC
10$24,225$363.54$20,849,974$16,450,733.83$20.83MGBDC

SPLP vs GBDC: Complete Analysis 2026

SPLPStock

Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications. It also designs, manufactures, and markets power electronics and protection, motion control, power quality electromagnetic equipment, custom ball-screws, and gears and gearboxes used in medical, commercial and military aerospace, computer, datacom, industrial, specialty LED lighting, test and measurement, and telecom applications. In addition, the company provides meat-room blade products, repair services, and distributed products for the meat and deli departments of supermarkets, restaurants, and meat and fish processing plants, as well as for electrical saws and cutting equipment distributors; cutting blades for bakeries; and wood cutting blade products for the pallet manufacturing, pallet recycler, and portable saw mill industries. Further, it manufactures and distributes coated, laminated and metallized films for imaging, aerospace, insulation and solar photo-voltaic markets; originates and funds consumer and small business loans; issues credit cards; takes deposits; participates in syndicated commercial and industrial, and asset based credit facilities and securitizations; and offers drilling and production services to the oil and gas industry. Steel Partners Holdings GP Inc. serves as the general partner of the company. The company was founded in 1990 and is based in New York, New York.

Full SPLP Calculator →

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.