Fortune Brands authorizes $750 million stock repurchase plan

DEERFIELD — Fortune Brands Home and Security Inc. Wednesday said its board has approved a $750 million stock repurchase plan over the next two years.

The company will repurchase outstanding common stock on the open market or in privately negotiated transactions in accordance with applicable securities laws, Fortune Brands said.

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

Fortune Brands is a Fortune 500 company, part of the S&P 500 Index and a leader in the home products industry.