Benzinga | Jul 26, 2021 03:07PM EDT

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

* Fortune Brands Home & Security Inc (NYSE: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.