Is TGASF or GBDC a better dividend investment in 2026?

TGASF currently yields 6.01% with a 5% 5-year dividend growth rate. GBDC yields 11.85% with 5% growth. The better choice depends on your goal: GBDC offers higher current income.

What is the dividend yield difference between TGASF and GBDC?

TGASF has a forward dividend yield of 6.01% ($0.03/share annually). GBDC yields 11.85% ($1.50/share annually). The yield gap is 5.84 percentage points.

Home › Compare › TGASF vs GBDC

TGASF vs GBDC: Dividend Comparison 2026

TGASF yields 6.01% · GBDC yields 11.85%● Live data

vsPost on X →

After 10 years · $10,000 invested · DRIP enabled

🏆 TGASF wins by $17835.30M in total portfolio value· pulled ahead in Year 4

INVESTMENT

TIME HORIZON10 years

TGASF

● Live price

6.01%

Share price

$0.51

Annual div

$0.03

5Y div CAGR

100%

Payout ratio

50%

After 10 yrs · $10,000 · DRIP

Portfolio value

$17856.08M

Annual income

$17,303,159,127.47

Full TGASF calculator →

GBDC

● Live price

11.85%

Share price

$12.66

Annual div

$1.50

5Y div CAGR

51.1%

Payout ratio

50%

After 10 yrs · $10,000 · DRIP

Portfolio value

$20.78M

Annual income

$16,389,263.41

Full GBDC calculator →

Portfolio growth — TGASF vs GBDC

📍 TGASF pulled ahead of the other in Year 4

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 Period	TGASF	GBDC
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, TGASF + GBDC cover 0 of 12 months — good coverage

Jan

—

Feb

—

Mar

—

Apr

—

May

—

Jun

—

Jul

—

Aug

—

Sep

—

Oct

—

Nov

—

Dec

—

TGASF pays

GBDC pays

Both pay

Neither

💰

Tax Bracket Optimizer

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

TGASF

Annual income on $10K today (after 15% tax)

$511.00/yr

After 10yr DRIP, annual income (after tax)

$14,707,685,258.35/yr

GBDC

Annual income on $10K today (after 15% tax)

$1,007.11/yr

After 10yr DRIP, annual income (after tax)

$13,930,873.90/yr

At 15% tax rate, TGASF beats the other by $14,693,754,384.45/year in after-tax income after 10 years on $10,000

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Lazy Portfolio Split Optimizer

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

TGASF: 50%GBDC: 50%

100% GBDC50/50100% TGASF

Portfolio after 10yr

$8938.43M

Annual income

$8,659,774,195.43/yr

Blended yield

96.88%

📊

Analyst Conviction Gap

Where Wall Street is most bullish on GBDC right now

TGASF

No analyst data

Altman Z

1.2

Piotroski

7/9

GBDC

Analyst Ratings

Buy

Hold

Consensus: Buy

Price Target

$14.00

+10.6% 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.

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Copy Congress — What Are Politicians Buying?

Senate & House STOCK Act disclosures (last 90 days)

TGASF buys

GBDC buys

Politician	Chamber	Ticker	Type	Amount	Date
David P. Joyce	🏢 House	$GBDC	▼ Sell	$1,001 - $15,000	2023-06-30
David P. Joyce	🏢 House	$GBDC	▼ Sell	$15,001 - $50,000	2023-06-19
David P. Joyce	🏢 House	$GBDC	▼ Sell	$15,001 - $50,000	2022-07-14
David P. Joyce	🏢 House	$GBDC	▼ Sell	$15,001 - $50,000	2022-07-12
Teresa Leger Fernandez	🏢 House	$GBDC	▼ Sell	$15,001 - $50,000	2021-01-20
David P. Joyce	🏢 House	$GBDC	▲ Buy	$1,001 - $15,000	2020-02-25
David P. Joyce	🏢 House	$GBDC	▲ Buy	$15,001 - $50,000	2019-05-30

STOCK Act mandates disclosure within 45 days of transaction. Data via FMP.Full tracker →

MetricTGASFGBDC

Forward yield	6.01%	11.85% ✓
Annual dividend / share	$0.03	$1.50 ✓
Payout ratio	50%	50%
1-year div growth	0%	0%
5-year div CAGR	100% ✓	51.1%
Portfolio after 10y	$17856.08M ✓	$20.78M
Annual income after 10y	$17,303,159,127.47 ✓	$16,389,263.41
Total dividends collected	$17817.77M ✓	$20.36M
Payment frequency	quarterly	quarterly
Sector	Stock	BDC

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

Year	TGASF Portfolio	TGASF Income/yr	GBDC Portfolio	GBDC Income/yr	Gap
1	$11,902	$1,202.36	$12,490	$1,790.28	$588.00 → GBDC
2	$15,410	$2,674.93	$16,522	$3,157.73	$1.1K → GBDC
3	$22,963	$6,473.54	$23,578	$5,898.68	$615.00 → GBDC
4← crossover	$42,600	$18,030.00	$37,115	$11,886.75	+$5.5K → TGASF
5	$108,104	$62,521.48	$66,136	$26,423.57	+$42.0K → TGASF
6	$412,226	$296,554.75	$137,257	$66,491.44	+$275.0K → TGASF
7	$2,554,794	$2,113,712.44	$341,734	$194,868.54	+$2.21M → TGASF
8	$27,219,358	$24,485,728.17	$1,050,788	$685,133.02	+$26.17M → TGASF
9	$516,744,425	$487,619,712.76	$4,099,314	$2,974,971.01	+$512.65M → TGASF
10	$17,856,075,663	$17,303,159,127.47	$20,775,530	$16,389,263.41	+$17835.30M → TGASF

TGASF vs GBDC: Complete Analysis 2026

TGASF — Stock

Towngas Smart Energy Company Limited, an investment holding company, sells and distributes piped gas in the People's Republic of China. The company operates through two segments, Sales and Distribution of Piped Gas and Related Products, and Gas Connection. It engages in the provision of natural gas and related services; construction of gas pipelines; operation of urban pipeline gas network; sale of gas related household appliances; and other value-added services. The company also offers financing services; provides engineering works services; and operates vehicle gas refilling stations, as well as smart energy solutions. It serves approximately 15.09 million customers. The company was formerly known as Towngas China Company Limited and changed its name to Towngas Smart Energy Company Limited in December 2021. The company was founded in 1998 and is headquartered in North Point, Hong Kong. Towngas Smart Energy Company Limited is a subsidiary of The Hong Kong and China Gas Company Limited.

Full TGASF Calculator →

GBDC — BDC

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.