FORTUNE BRANDS HOME & SEC INC (DE) - FBHS STOCK NEWS

Fortune Brands Home & Security, Inc. (NYSE: FBHS) announced a quarterly cash dividend of $0.28 per common share on May 2, 2022. This dividend is payable on June 15, 2022, to stockholders of record as of May 27, 2022. As an industry leader in home and security products with over 28,000 associates, the company maintains its strong market presence and commitment to environmental, social, and governance initiatives.

Fortune Brands Home & Security (NYSE: FBHS) announced plans for a tax-free spin-off of its Cabinets business to create two publicly traded companies. The 1Q 2022 financial results showed sales of $1.9 billion, up 8% year-over-year, with EPS of $1.34, a 6% increase. However, EPS before charges/gains decreased by 4%. The company has adjusted its full-year EPS outlook upward, reflecting share repurchases. The potential spin-off aims to maximize shareholder value and is subject to further board approval, expected to complete in approximately 12 months.

Fortune Brands Home & Security (FBHS) has partnered with Yellowstone Forever, committing to support sustainability initiatives at Yellowstone National Park. Over the next three years, FBHS will provide monetary contributions and product donations from its brands, aimed at revitalizing employee housing and enhancing sustainability. Notable donations include Moen faucets and Energy Star qualified Therma-Tru doors. This partnership aligns with FBHS's ESG commitments, enhancing comfort and functionality in park facilities while supporting resource conservation.

Fortune Brands Home & Security, Inc. (NYSE: FBHS) will release its first quarter 2022 financial results on April 28, 2022, after market close. A conference call will be held at 4:30 p.m. ET featuring CEO Nicholas Fink, CFO Patrick Hallinan, and SVP David Barry to discuss the results. The call will be available via a live audio webcast on the company’s website. Fortune Brands is a leading provider in the home and security products sector, with a portfolio that includes brands such as Moen and Therma-Tru.

Fortune Brands Home & Security (NYSE: FBHS) announced a $900 million public offering of senior unsecured notes on March 22, 2022. This includes $450 million of 4.000% notes maturing in 2032 and $450 million of 4.500% notes maturing in 2052, with a net weighted-average interest rate of approximately 3.950%. The offering closed on March 25, 2022, and proceeds will be used to pay down a portion of existing term loans and for general corporate purposes. The offering was over-subscribed, indicating strong investor demand.

Moen, a leader in home water experiences, is launching a World Water Day campaign as part of its Mission Moen initiative to raise awareness about water scarcity. The campaign includes commitments to save 1 trillion gallons of water by 2030 through the development of water-saving products like the Nebia by Moen Quattro showerhead, which uses 50% less water than standard models. Moen also aims to repurpose 2,000 tons of ocean plastic by 2030. The campaign will be visible in high-profile locations like Times Square and through major publications to emphasize the importance of water conservation.

Fiberon, a top manufacturer of outdoor living products, is enhancing its manufacturing processes to prioritize efficiency, safety, and sustainability. The company has begun implementing updates at its facilities in New London, NC and Meridian, ID, including the addition of production lines and automation technologies. A new plant is also being constructed in Columbia, TN. These upgrades aim to improve productivity and reduce labor intensity, fostering a safer work environment and more environmentally friendly operations.

Fortune Brands Home & Security (NYSE: FBHS) has announced a new share buyback program, authorizing the repurchase of up to $750 million of its common stock over the next two years. This addition comes alongside $134.6 million remaining from a previous buyback authorization set to expire on July 23, 2023. The new buyback is contingent on market conditions and is effective until March 1, 2024, though the company is not obligated to repurchase any specific amount or number of shares.

The House of Rohl, a luxury plumbing brands portfolio, showcased new offerings at KBIS 2022, emphasizing the connection between design and personal wellbeing. Highlights include the launch of three new color palettes for Victoria + Albert and the Apothecary™ Collection by ROHL that emphasizes vintage aesthetics. The Riobel® Ode™ Bath Collection focuses on hygiene and ease of maintenance. A new range of Culinario™ sinks was introduced, featuring multi-purpose functionality. These innovations reflect consumer demand for elegant and practical home experiences in both kitchen and bathroom spaces.