DEERFIELD, Ill. - Fortune Brands (NYSE:FBIN) Innovations, Inc. (NYSE:FBIN), a company specializing in home and security products, has declared a quarterly cash dividend of $0.24 per common share. The announcement made on Monday states that the dividend will be payable on June 12, 2024, to shareholders who are on record by the close of business on May 24, 2024.
This dividend declaration follows Fortune Brands Innovations' strategy of delivering value to its shareholders. The company, with a diverse portfolio of brands including Moen, House of Rohl, and Master Lock, is known for its focus on innovation in the home products, security, and commercial building markets.
The company's commitment to enhancing shareholder returns is part of its broader business objectives, which also encompass environmental, social, and governance (ESG) commitments. Fortune Brands Innovations has been actively working on expanding its brand portfolio and strengthening its market position in its respective industries.
The information regarding the dividend is based on a press release statement from Fortune Brands Innovations.
InvestingPro Insights
As Fortune Brands Innovations, Inc. (NYSE:FBIN) continues to reward its shareholders with regular dividend payments, the latest data from InvestingPro provides insights into the company's financial health and market performance. The company's market capitalization stands at $9.23 billion, indicating a substantial presence in the home and security products market. With a Price/Earnings (P/E) ratio of 22.29, FBIN trades at a premium compared to some industry peers, reflecting investor confidence in its earnings potential.
InvestingPro Tips highlight that FBIN's stock price movements have shown notable volatility, which may attract investors looking for dynamic trading opportunities. Additionally, the company's commitment to shareholder returns is underscored by its track record of maintaining dividend payments for 12 consecutive years. This consistency in returning value to shareholders is a testament to the company's stable financial management and strategic growth initiatives.
From a financial standpoint, FBIN's Price/Book ratio as of the last twelve months ending Q1 2024 is 4.04, suggesting that the market values the company's assets highly. The Revenue Growth for the same period was modest at 1.58%, yet the company has managed to maintain a healthy Gross Profit Margin of 42.86%, indicating effective cost control and a solid business model.
Investors interested in deeper analysis and additional InvestingPro Tips can explore further by visiting InvestingPro for a comprehensive look at FBIN. There, investors can find more insights, including 6 additional tips that could help in making informed investment decisions. To enhance your InvestingPro experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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