Fortune Brands Home & Security (FBHS) will raise its quarterly dividend by 10.0 percent to $0.22 per share in the first quarter of 2018. This marks the fifth consecutive year of dividend increases by the home and security products provider.

The dividend is payable on March 13, 2019, to stockholders of record as of the close of business on February 22, 2019.  The new annualized dividend rate of 88 cents per share yields 2.1% at a stock price of $41.75.

“This represents the sixth 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 Home & Security, Inc. provides home and security products for use in residential home repair, remodeling, new construction, and security applications. The Company’s four operating segments are Cabinets, Plumbing, Doors and Security. Its trusted brands include more than a dozen core brands under MasterBrand Cabinets; Moen, Perrin & Rowe, Riobel, ROHL, Shaws and Victoria + Albert under the Global Plumbing Group (GPG); Therma-Tru entry door systems; and Master Lock and SentrySafe security products under The Master Lock Company.