Fortune Brands Home & Security Inc., a home and security products company, has announced that its Board of Directors authorized the repurchase of up to $750 million of shares of the company’s outstanding common stock over the next two years on the open market or in privately negotiated transactions in accordance with applicable securities laws.

The $750 million share repurchase authorization announced today is in addition to the $134.6 million remaining from an existing authorization, which expires on July 23, 2023.

The new purchases, if made, will occur from time to time depending on market conditions. The newly announced share repurchase authorization does not obligate the company to repurchase any dollar amount or number of shares of common stock. This authorization is in effect until March 1, 2024, and may be suspended or discontinued at any time.