ADT Exits Residential Solar Business, Focuses on Security and Increases Dividend Amid Industry Challenges

ADT, a major provider of home security and smart home devices, has announced it will exit its residential solar business due to macroeconomic headwinds and deteriorating conditions industry wide. The company plans to remain focused on cash flow generation from its core security business and increase its dividend payments by 57% and add a new share repurchase program. ADT’s Board of Directors approved the exit of this segment, which may include the sale of components of the business to other parties. The move comes as the residential solar industry struggles with policy changes and high interest rates.