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.
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.