DEERFIELD, Ill. - Fortune Brands (NYSE:FBIN) Innovations, Inc. (NYSE:FBIN), a company known for its portfolio of home products and security brands, has declared a slight increase in its quarterly cash dividend. On Monday, the Board of Directors announced the dividend would rise from $0.24 to $0.25 per common share, payable on March 12, 2025, to shareholders of record by February 21, 2025.
This increment reflects the Board's confidence in the long-term cash flow potential of Fortune Brands and aligns with the company's strategy to use free cash flow to enhance shareholder value. This strategy includes investing in its own business operations, seeking accretive acquisitions, and returning cash to its shareholders.
Fortune Brands, whose mission is to elevate lives by transforming spaces into havens, is a leader in innovation within the home products, security, and commercial building markets. Its brand portfolio features notable names such as Moen, House of Rohl, and Master Lock.
Headquartered in Deerfield, Illinois, Fortune Brands continues to focus on leading through innovation and channel leadership in high-interest categories related to home improvement and security solutions. The company's commitment to creating smarter, safer, and more aesthetically pleasing homes and commercial spaces remains central to its business strategy.
The information regarding the dividend declaration is based on a press release statement from Fortune Brands Innovations, Inc.
In other recent news, Frontdoor (NASDAQ:FTDR), Inc. has expanded its partnership with Moen to install the Moen Flo Smart Water Monitor and Shutoff devices in seven additional states, including Arizona, Utah, Idaho, Oregon, Texas, Georgia, and South Carolina. This service, initially available in California, is designed to protect homes against water damage, potentially reducing water damage insurance claims by up to 96%. Customers who purchase the Moen Flo device will receive a complimentary one-year Frontdoor Unlimited membership, offering access to Frontdoor plumbing experts and scheduling of in-person services.
In a parallel development, Fortune Brands Innovations, Inc. has announced a quarterly cash dividend of $0.24 per common share, due for payment in December. This decision reflects the company's financial health and its strategy of generating consistent shareholder value while maintaining a focus on its core business areas.
Furthermore, Frontdoor, Inc. and Moen, a Fortune Brands Innovations' brand, have entered into an exclusive agreement to install Flo Smart Water Monitor and Shutoff systems in California. This collaboration aims to significantly reduce residential water damage insurance claims and is expected to reach thousands of installations monthly when fully operational. These are recent developments in the operations of both Fortune Brands Innovations and Frontdoor, Inc.
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