Goldman Slips as Subsidiary Trims Dividends and Buys Back Shares Trading Volume Ranks 99th

On August 7, 2025, Goldman Sachs (GS) declined 0.69% with a trading volume of $1.01 billion, ranking 99th in the market. The stock’s performance followed the release of financial results from Goldman Sachs BDC, Inc. (GSBD), a subsidiary of the broader firm.

GSBD reported a 1.4% decline in net asset value (NAV) per share to $13.02 for the quarter ended June 30, 2025, amid reduced portfolio size and investment activity. The company also cut its base quarterly dividend to $0.32 per share, introducing a variable supplemental component tied to excess net investment income. Despite these adjustments, GSBD repurchased $12.1 million worth of shares under a new buyback program, signaling confidence in its value proposition.

Key operational shifts included the restructuring of several portfolio positions, such as restoring accrual status for a $126.7 million loan to Lithium Technologies, Inc., while placing others, like Streamland Media Midco LLC, on non-accrual due to underperformance. The company’s net debt-to-equity ratio fell to 1.12x from 1.16x, reflecting improved leverage management. These developments highlight GSBD’s focus on risk mitigation and capital preservation, which may indirectly influence investor sentiment toward Goldman Sachs’ broader credit profile.

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