Installed Building Products Raises Quarterly Dividend 5.4% to $0.39, Declares $1.80 Variable Payout
Installed Building Products, Inc. (NYSE: IBP), a national installer of insulation and complementary building products, declared a first quarter cash dividend of $0.39 per share, up from $0.37 in the prior year period. The board also approved an annual variable dividend of $1.80 per share.
Installed Building Products, Inc. (NYSE: IBP), a national installer of insulation and complementary building products, declared a first quarter cash dividend of $0.39 per share, representing a 5.4% increase over the prior year period. The board also approved an annual variable dividend of $1.80 per share, up $0.10 or nearly 6% from last year's variable payout. Read more dividend announcements.
Both dividends will be paid March 31, 2026 to shareholders of record as of March 13, 2026. The company announced the dividends alongside its fourth quarter and full year 2025 financial results on February 26, 2026.
| Dividend Type | Amount per Share | Record Date | Payment Date |
|---|---|---|---|
| Quarterly Cash | $0.39 | March 13, 2026 | March 31, 2026 |
| Annual Variable | $1.80 | March 13, 2026 | March 31, 2026 |
The Columbus, Ohio-based company reported record profitability for the fourth quarter and full year 2025. Net income for the fourth quarter increased 14.5% to $76.6 million, while net income per diluted share rose 18.4% to $2.83. Adjusted EBITDA climbed 7.7% to a record $142.2 million.
Net revenue for the quarter declined 0.4% to $747.5 million. Installation revenue, the company's primary business segment, decreased 2.2% to $679.7 million, while other revenue from manufacturing and distribution operations jumped 22.8% to $67.8 million.
The company closed 2025 with $321.9 million in cash and cash equivalents. During the fourth quarter, Installed Building Products repurchased 150,000 shares of common stock at a total cost of $37.6 million.
Debt Refinancing and Credit Rating
Installed Building Products completed a private offering of $500 million in aggregate principal amount of 5.625% senior unsecured notes due 2034. The company also amended its existing asset-based lending revolving credit facility, increasing commitments from $250 million to $375 million and extending the maturity date to January 21, 2031.
Fitch Ratings assigned the company a first-time Long-Term Issuer Default Rating of 'BB+' with a Stable Rating Outlook. The credit rating agency gave the ABL credit facility a 'BBB-' rating with a Recovery Rating of 'RR1', the senior secured term loan a 'BBB-'/'RR2' rating, and the senior unsecured notes a 'BB+'/'RR4' rating.
Acquisition Activity
The company completed 11 acquisitions during 2025, representing over $64 million of annual revenue. During the fourth quarter and early 2026, Installed Building Products acquired seven businesses with combined annual sales of approximately $45 million.
Recent acquisitions included Thermo-Tech Mechanical Insulation, Inc. with $13 million in annual revenue and Echols Glass & Mirror, Inc. with $12 million in annual sales. For 2026, the company expects to acquire at least $100 million of annual revenue.
The board authorized a new stock repurchase program allowing for the repurchase of up to $500 million of outstanding common stock through March 1, 2027, replacing the existing program.