Fortune Brands Innovations, Inc. (NYSE:FBIN) Plans $0.26 Quarterly Dividend

Key Points

• Fortune Brands Innovations announced a quarterly dividend of $0.26 per share, payable on September 9 to shareholders of record as of August 21. The stock’s dividend yield is about 2.1%.
• The company’s dividend appears well covered, with a payout ratio of 24.2%, and analysts expect it to remain sustainable based on projected earnings. Fortune Brands has also raised its dividend annually for the last two consecutive years.
• In its latest quarterly results, FBIN met analyst expectations with earnings of $0.53 per share and revenue of $1.01 billion, though revenue was down 2.1% year over year.

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) announced a quarterly dividend on Monday, July 20th. Stockholders of record on Friday, August 21st will be given a dividend of 0.26 per share on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 21st.

Fortune Brands Innovations has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Fortune Brands Innovations has a payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fortune Brands Innovations to earn $3.60 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 28.9%.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $50.24 on Tuesday. Fortune Brands Innovations has a 52-week low of $32.34 and a 52-week high of $64.84. The company has a fifty day moving average of $43.43 and a 200-day moving average of $46.67. The company has a market capitalization of $5.99 billion, a P/E ratio of 22.33, a P/E/G ratio of 3.32 and a beta of 1.30. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting analysts' consensus estimates of $0.53. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The company's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. As a group, equities research analysts predict that Fortune Brands Innovations will post 3.14 EPS for the current fiscal year.

About Fortune Brands Innovations

Fortune Brands Innovations NYSE: FBIN, formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.

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