ADT Inc. (ADT) shares declined 0.71% in after-hours on Tuesday, August 17, 2021, and closed the daily trading at $8.42 per share. In the regular trading session on Tuesday, ADT’s stock lost 2.64%. ADT shares have fallen 26.39% over the last 12 months, and they have moved down 7.63% in the past week. Over the past three months, the stock has lost 10.74%, while over the past six months, it has slid down 9.88%.
Let’s have a look at its recent news and developments.
Divided declaration
On August 17, 2021, ADT Inc announced that it will pay a dividend of US$0.035 per share on the 5th of October. This payment means that the dividend yield will be 1.5%, which is around the industry average.
ADT financial results announcement
On August 04, 2021, ADT Inc reported results for the second quarter of 2021.
Q2 2021 financial highlights
- The company reported total revenue of $1.3 million for Q2 2021 compared to $1.33 million in Q2 2020.
- Net cash provided by operating activities was $426 million in Q2 2021 compared to $379 million in Q2 2020.
- It suffered a net loss of $126 million in Q2 2021 compared to a net loss of $107 million in Q2 2020.
- Adjusted EBITDA was $542 million in Q2 2021 compared to $563 million in Q2 2020.
ADT closed Senior Secured Notes offering
On July 29, 2021, The ADT Security Corporation, which is an indirect wholly-owned subsidiary of ADT, completed its previously announced offering of $1.0 billion aggregate principal amount of 4.125% first-priority senior secured notes due 2029. The Notes are exempt from the registration requirements of the Securities Act of 1933, as amended.
Patent Infringement Suit Against Vivint
On June 30, 2021, ADT, brought actions for patent infringement against Vivint, a security and alarm company headquartered in Provo, Utah. Separate but related actions have been filed with the U.S. International Trade Commission and in the United States District Court for the Western District of Texas.
The complaint said that Vivint has introduced and promoted a series of products willfully infringing upon several of ADT’s patents. These patents cover ADT’s investments and innovations in smart home integration, data collection, and control panel functions and interfaces, among other capabilities and features.
Conclusion
Well, as of this writing there is no such news that could be the reason behind its loss on Tuesday and there are high chances that its stock will return towards positivity in the coming trading sessions.
