Fortune Brands Rewards Shareholders with 7.7% Dividend Hike
This article was originally published on TipRanks.com
Home and security products manufacturer Fortune Brands Home & Security, Inc. (FBHS) recently announced a quarterly dividend of $0.28 per share, an increase of about 7.7% from the previous dividend of $0.26 per share.
The dividend will be paid on March 16, 2022, to shareholders of record as of Feberuary 25, 2022.
The company’s annual dividend of $1.12 per share now reflects a dividend yield of 1.1% based on Tuesday’s closing price.
Notably, the company has been raising its quarterly dividend consistently over the past nine years, making it an attractive choice for investors.
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Last month, Bank of America Securities analyst Rafe Jadrosich initiated coverage on the stock with a Buy rating and a price target of $127, which implies upside potential of 22.4% from current levels.
The Street is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 4 Buys and 2 Holds. The average Fortune Brands price target of $115 implies that the stock has 10.8% upside potential from current levels.
Fortune Brands scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained about 21.5% over the past year.
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