Fortune Brands is confident in its own ability to make money.

That conclusion can be drawn by the company’s board of directors authorizing the repurchase of up to $250 million of shares of its common stock over the next two years.

Fortune Brands continues to act on its strategy for utilizing free cash flow and the balance sheet to drive incremental shareholder value, as evidenced by the approximately $1 billion deployed over the last seven quarters that enabled the Company to:

  • Completing acquisitions of Sentry Safe and WoodCrafters, totaling $417 million.
  • Repurchasing $463 million in company shares.
  • Initiate a $0.10 quarterly dividend and increasing the dividend to $0.12.

The new repurchase authorization is on top of $78 million remaining under the prior share repurchase authorizations.

“We have deployed approximately $1 billion over the last seven quarters, but we estimate that an even greater amount can be deployed from this point forward as the housing market continues to recover to a steady state,” says Chris Klein, CEO, Fortune Brands.

The authorization is in effect until September 30, 2016, and may be suspended or discontinued at any time.

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