Fortune Brands Increases Quarterly Dividend for 8th Consecutive Year

Rhea-AI Summary

Fortune Brands Home & Security (NYSE: FBHS) has declared a quarterly cash dividend of $0.26 per share, effective March 17, 2021, for stockholders of record by February 26, 2021. This 8% increase from the previous $0.24 reflects the Board's confidence in the company's long-term cash flow and growth strategy, which includes investing in businesses and accretive acquisitions. This marks the eighth consecutive year of dividend increases, underscoring the company's strong execution and commitment to enhancing shareholder value.

Positive

• 8% increase in quarterly dividend from $0.24 to $0.26 demonstrates strong growth.
• Company has increased its dividend for eight consecutive years, indicating stability.
• Board's confidence in long-term cash flow and strategy to return cash to shareholders.

Negative

• None.

DEERFIELD, Ill.--(BUSINESS WIRE)--Fortune Brands Home & Security, Inc. (NYSE: FBHS, the “Company”, or “Fortune Brands”), an industry-leading home and security products company, announced that today, December 8, 2020, its Board of Directors declared a quarterly cash dividend of $0.26 per common share. The dividend is payable on March 17, 2021, to stockholders of record as of the close of business on February 26, 2021.

The 8 percent increase in the quarterly dividend, from $0.24 to $0.26, represents the Board’s continued confidence in the Company’s long-term cash flow potential and its support of the Company’s broader strategy for utilizing free cash flow to build shareholder value by investing in Fortune Brands’ businesses, pursuing accretive acquisitions and returning cash to shareholders.

“We have now increased our dividend rate for the eighth consecutive year. This is a testament to our solid execution of our strategies, strong cash flow generation and commitment to driving incremental shareholder value. We will continue to strategically use our strong balance sheet, capital structure and free cash flow as we drive our next phase of growth,” said Nicholas Fink, chief executive officer, Fortune Brands.

About Fortune Brands

Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in Deerfield, IL., creates products and services that fulfill the dreams of home. The Company's operating segments are Plumbing, Cabinets and Outdoors & Security. Its trusted brands include Moen, Riobel, Perrin & Rowe, Shaws, Victoria + Albert and Rohl under the Global Plumbing Group (GPG); more than a dozen core brands under MasterBrand Cabinets; Therma-Tru entry door systems, Fiberon composite decking and Master Lock and SentrySafe security products in the Outdoors & Security segment. Fortune Brands holds market leadership positions in all of its segments. Fortune Brands is part of the S&P 500 Index and a Fortune 500 Company. For more information, please visit www.FBHS.com. To learn more about how Fortune Brands is embracing and accelerating its environmental, social and governance duties, please visit the Company’s ESG section and report at www.FBHS.com/global-citizenship.

Source: Fortune Brands Home & Security, Inc.