Count Limited (ASX:CUP) has a Dividend Reinvestment Plan (DRP) operating for its fully franked FY26 final dividend of 3 cents per share. The accounting and Wealth group has grown through acquisitions, and it is issuing new shares to DRP participants with no discount applied.

Latest developments

Count reported its FY26 results, with Revenue rising 15.6% to $165.9 million, underlying EBITA increasing 20.5% to $33.4 million, and underlying net profit after tax (NPAT) climbing 27.2% to $13.9 million. Statutory NPAT rose 70.8% to $15.2 million. Funds under advice grew 13.7% to $43.0 billion, and funds under management increased 66.1% to $6.5 billion.

The most significant strategic move came after balance date, when Count completed its Acquisition of Oracle Group, a Newcastle-headquartered advice, accounting and investment management business, at an Enterprise value of about $72.2 million. The deal was funded partly by a $35.9 million institutional Placement and a share purchase plan targeting up to $5 million. Count has launched Count Wealth as a national platform following the deal. Separately, S&P Dow Jones Indices added Count to the S&P/ASX All Ordinaries index as part of its September quarterly rebalance.

Key numbers

Count paid a fully franked 2 cent Interim Dividend for 1H26 and has declared a 3 cent final dividend, bringing total FY26 dividends to 5 cents per share, fully franked. The final dividend is 9.1% higher than the 2.75 cent final paid a year earlier, and Count described it as its highest final dividend in nine years.

The dividend is franked at 100% based on a 30% company tax rate, and the value of franking credits depends on each investor's tax position.

About the company

Count describes itself as a network of integrated accounting and wealth services firms. It holds Equity stakes in partner firms, provides financial advice and investment management, and has expanded through acquisitions, completing 10 transactions during FY26. Hugh Humphrey is Chief Executive Officer.

The Oracle deal increases the weight of wealth in the business. At announcement, Count said the acquisition would take its Wealth segment to about 59% of first-half FY26 pro forma EBITA.

How the DRP works

According to its dividend notices lodged with the ASX, Count's DRP price is the arithmetic average of the daily volume-weighted average price (VWAP) of shares traded on the ASX over the five trading days commencing on the second trading day after the record date, with no discount applied. Count confirmed the final DRP price in an updated notice, with the pricing period ending after the election deadline had passed.

The DRP is satisfied with newly issued shares. Count said 651,152 shares would be allocated to participating shareholders. Shareholders who did not elect to participate receive cash by default. Because the price is set after the election deadline, participants do not know the exact price when they elect. The board can change the plan, including any discount, for future dividends, and the DRP rules and dividend notices set out the current terms.

Why it matters for income investors

Count's dividend has increased alongside growth in its underlying and statutory Earnings in FY26, and the dividends are fully franked.

A DRP allows participating holders to reinvest dividends into additional shares without brokerage, and each allocation adds shares that are eligible for any later dividends. Because the DRP price is based on market prices during the pricing period, the number of shares received depends on trading over that window.

What comes next

DRP shares for the final dividend are due to be issued on the payment date, alongside the cash payment to non-participating shareholders. Participating shareholders will see the new shares in their holding statements once they are allocated.

Key areas to watch include the integration of Oracle and whether the targeted cost synergies are delivered. Count has pointed to elevated Demand for accounting and advice services, citing Superannuation complexity and proposed regulatory and budget changes. Future dividends and DRP terms remain subject to board decisions.

Risks and context

Wealth fees linked to funds under management can be affected by movements in investment markets, and outcomes from acquisitions may differ from expectations.

Because the DRP issues new shares, it adds to the share count, as did the placement and share purchase plan used to fund the Oracle acquisition. Integration, deferred and earn-out payments, and adviser retention are company-specific risks, and a Business built partly on acquisitions depends on identifying suitable targets on acceptable terms. Reinvested dividends are still assessable income, and each DRP parcel sets a new cost base for Capital Gains Tax purposes.

Conclusion

Count Limited (ASX:CUP) has an operating DRP that issues new shares at no discount for its fully franked FY26 final dividend. FY26 profit growth, a higher final dividend and the completed Oracle acquisition form part of the company's recent progress, while dilution from new share issues and integration risk are also relevant considerations.

Key Insights

Count Limited (ASX:CUP) reported higher revenue, underlying EBITA and NPAT in FY26, and lifted its fully franked final dividend to 3 cents per share, bringing total FY26 dividends to 5 cents per share. Its DRP is operating for the final dividend, with the price based on a five-trading-day VWAP after the record date, no discount, and participation satisfied through newly issued shares.

The Oracle Group acquisition, completed after balance date and funded partly by an equity raising, increases the weight of wealth in Count's earnings mix. Integration, synergy delivery and the dilutive effect of new share issues are factors that may influence future outcomes.