DEERFIELD, Ill.--Fortune Brands Home & Security, Inc. (NYSE: FBHS), an industry-leading home and security products company, today announced that its Board of Directors declared a quarterly cash dividend of $0.18 per common share on December 13, 2016. The dividend is payable on March 15, 2017, to stockholders of record as of the close of business on February 24, 2017. The 13 percent increase in the quarterly dividend, from $0.16 to $0.18, 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.
“This represents the fourth consecutive year of a double digit increase in our dividend rate. We are continuing to deliver profitable growth and are following through on our commitment to use our strong balance sheet, capital structure and free cash flow to drive incremental shareholder value,” 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 four operating segments are Cabinets, Plumbing, Doors and Security. Its trusted brands include more than a dozen core brands under MasterBrand Cabinets; Moen, ROHL and Riobel under the Global Plumbing Group (GPG); Therma-Tru entry door systems; and Master Lock and SentrySafe security products under The Master Lock Company. 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.
Source: Fortune Brands Home & Security, Inc.