EQT Holdings Ltd (ASX:EQT), which operates as Equity Trustees, goes ex-dividend on 9 October 2026 for a final dividend of 20 cents per share. The dividend is fully franked at 100% and is scheduled to be paid on 23 October 2026. Shareholders holding shares before the ex-date are expected to be entitled to the payment, while buyers from 9 October onward will not receive it. The final dividend brings total FY26 dividends to 76 cents per share, representing a payout ratio of 77%. The board said the dividend represents an appropriate balance between rewarding shareholders and maintaining financial flexibility while the company completes its exit from the Superannuation Trustee Services business.

The 77% payout ratio is within a range that leaves some earnings retained to support the business during the STS exit. Shareholders who own EQT shares before 9 October are expected to receive the dividend in late October. The board said it will continue to review capital settings as the exit progresses and the group's financial position further strengthens.

Company Overview

EQT Holdings is an Australian trustee and wealth services company with a long history in managing estates, trusts and investments. Its continuing businesses include Trustee and Wealth Services (TWS), which provides estate management, personal and charitable trusts, and health and personal injury services, and Corporate Trustee Services (CTS), which acts as responsible entity, trustee and custodian for funds and corporate clients. The company is currently exiting its Superannuation Trustee Services (STS) business. Mick O'Brien is Managing Director, and Carol Schwartz is Board Chair.

Recent Developments

On 27 August 2026, EQT announced its results for the year ending 30 June 2026. Key figures include:

  • Continuing operations revenue increased 9.4% to $167.0 million.
  • Continuing operations net profit before tax rose 35.8% to $49.9 million, with the NPBT margin expanding to 29.9%.
  • Continuing operations net profit after tax increased 32.7% to $33.9 million.
  • Reported group NPAT was $26.4 million, reflecting a $7.5 million loss from discontinued STS operations.
  • Funds under management, administration and supervision (FUMAS) for continuing operations increased 15.1% to $191.9 billion.
  • Net costs associated with the Shield and First Guardian matters totalled $3.9 million.

Trustee and Wealth Services revenue rose 7.7% to $110.0 million, and NPBT increased 24.8% to $36.7 million, with the margin up 457 basis points to 33.3%. Growth was driven by the Health and Personal Injury client portfolio, which grew revenue by 12.0%, higher estate values and broader demand. The company said the TWS transformation program has been completed, and enhancements planned for FY27 include a client portal, a unified payments process and further development of the estate management service.

Corporate Trustee Services onboarded 45 new responsible entity and trustee appointments and 37 new custody appointments. CTS revenue increased 13.8% to $53.2 million, and NPBT rose 15.3% to $22.0 million, with a margin of 41.4%. CTS FUMAS increased 17.2% to $174.2 billion. Mr O'Brien said FY26 was a year of significant achievement for the core businesses despite the challenges associated with STS. The company said engagement with regulators and counterparties on the STS exit remains ongoing and that it will provide updates as milestones are reached.

Board Chair Carol Schwartz said the company remains committed to prudent capital management and will continue reviewing capital settings as the STS exit progresses. Mr O'Brien said the continuing operations NPBT margin expansion reflected operating leverage, disciplined cost management and the benefits of the transformation program.

Sector Context

Trustee and fiduciary services companies earn fees for managing estates, trusts and funds, often based on the value of assets under administration. Demand is supported by intergenerational wealth transfer, growth in managed funds and regulatory requirements for independent trustees. Revenue can be relatively stable but is influenced by investment market values.

The superannuation trustee sector has faced increased regulatory scrutiny, particularly around investment options offered on platforms and the handling of member outcomes. Several trustees have been affected by issues relating to failed investment schemes, prompting regulators to take action. Companies in the sector must maintain capital, compliance and risk management standards.

Independent trustee and custody services have seen growing demand as fund managers and corporate clients seek specialist providers. Australia's growing pool of managed funds and the large volume of wealth expected to pass between generations in coming decades support demand for estate planning and trustee services.

Risks

EQT's exit from STS remains in progress, and its timing and cost are uncertain, with engagement with regulators and counterparties ongoing. Costs associated with the Shield and First Guardian matters may continue. Revenue linked to FUMAS can fall if investment markets decline. Regulatory changes could affect trustee businesses. The payout ratio and future dividends depend on earnings and capital needs during the STS exit. Share prices typically adjust on the ex-dividend date.

Regulatory investigations or legal matters related to the superannuation sector could result in additional costs or reputational impacts. Client concentration in the Corporate Trustee Services business could also affect revenue if large mandates are lost.

Catalysts to Watch

Investors may watch for payment of the final dividend on 23 October 2026, updates on the STS exit and related regulatory matters, and growth in new CTS appointments. The launch of TWS enhancements in FY27 and any review of capital settings may also be relevant.

Commentary on margin trends in TWS and CTS, which both expanded in FY26, may help investors assess the sustainability of profit growth in the core businesses.

Key Takeaways

EQT's fully franked final dividend of 20 cents goes ex on 9 October and is payable on 23 October. Continuing operations delivered profit growth in FY26, while the STS exit remains the key area to follow.