Fortune Brands Plans Additional $400M Stock Buyback, Declares Dividend

Fortune Brands Home & Security Inc FBHS, a home and security products company, said its Board of Directors authorized the repurchase of up to $400 million of shares of common stock.
The company will repurchase shares over the next two years, and the authorization will be in effect until July 23, 2023.
The authorization is in addition to the $306 million remaining from prior authorization expiring on September 21, 2022.
Additionally, on July 23, 2021, the Board declared a quarterly cash dividend of $0.26 per common share, payable on September 15, 2021, to stockholders of record on August 27, 2021.
Price action: FBHS shares are trading lower by 0.79% at $97.39 on the last check Monday.