ADT shares are trading higher after the company announced it will exit its residential solar business. The company also said it would increase its dividend and authorize a $350 million share repurchase program.
Portfolio Pulse from Benzinga Newsdesk
ADT Inc. has announced its decision to exit the residential solar business, alongside plans to increase its dividend and initiate a $350 million share repurchase program. These strategic moves have led to an increase in ADT's stock price.
January 25, 2024 | 4:02 pm
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ADT is exiting the residential solar sector, raising its dividend, and starting a $350 million share buyback program, which has positively impacted its share price.
Exiting the residential solar business may allow ADT to focus on its core competencies, potentially improving operational efficiency. The dividend increase and share repurchase program signal to investors that the company is confident in its financial stability and future prospects, which typically has a positive effect on stock price in the short term.
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IMPORTANCE 85
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