DEERFIELD, Ill.--(BUSINESS WIRE)--Fortune Brands Home & Security, Inc. (NYSE: FBHS), an industry-leading home and security products company, announced that today, December 10, 2019, its Board of Directors declared a quarterly cash dividend of $0.24 per common share. The dividend is payable on March 18, 2020, to stockholders of record as of the close of business on February 28, 2020.
The 9 percent increase in the quarterly dividend, from $0.22 to $0.24, 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 seventh consecutive year. This is a testament to our solid execution of our strategies 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 Chris Klein, chief executive officer, Fortune Brands.
About Fortune Brands
Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in Deerfield, Ill., creates products and services that fulfill the dreams of homeowners and help people feel more secure. The Company's operating segments are Plumbing, Cabinets, and Doors & Security. Its trusted brands include Moen, Perrin & Rowe, Riobel, Rohl, Shaws and Victoria + Albert 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 Doors & Security segment. Fortune Brands holds market leadership positions in all of its segments. Fortune Brands is part of the S&P 500 Index. For more information, please visit www.FBHS.com.
