Fortune Brands Home & Security (FBHS) will raise it's quarterly dividend to $0.18 per share.

The dividend is payable on March 15, 2017, to stockholders of record as of the close of business on February 24, 2017. 

“This represents the fourth consecutive year of a double digit increase in our dividend rate. We are continuing to deliver profitable growth and are following through on our commitment to use our strong balance sheet, capital structure and free cash flow to drive incremental shareholder value,” said Chris Klein, chief executive officer, Fortune Brands.

Fortune Brands, operating in four segments (Cabinets, Plumbing, Doors and Security), provides home and security products for use in residential home repair, remodeling, new construction, and security applications.

The new $0.72 per share annual dividend translates into an estimated dividend yield of 1.3% at the current stock price of $55.43.