Fortune Brands Increases Quarterly Dividend by 13 Percent
DEERFIELD, Ill.–(BUSINESS WIRE)–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.
Contacts
INVESTOR AND MEDIA CONTACT:
Fortune Brands Home & Security, Inc.
Brian
Lantz
847-484-4574
brian.lantz@FBHS.com
