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ADT intends to focus on lowering debt from current 4x leverage ratio
By Devika Patel
Knoxville, Tenn., Dec. 11 – ADT Inc. is focused on reducing debt, despite considering potential mergers and acquisitions.
The company’s leverage ratio stands at 4x.
“We’ve looked at some commercial acquisitions over the course of the last couple of years,” president and chief executive officer Jim DeVries said at the Imperial Capital 16th Annual Security Investor Conference in New York on Wednesday.
“Opportunistic M&A has not diminished our long-term focus on dialing down debt and so from a capital allocation standpoint, over time, we’ll most certainly focus on debt.
“As you know, we’re 4x leveraged and over time we’ll dial that down.
“Paying down debt, looking at M&A opportunistically and returning capital to shareholders via our ongoing dividend will be the three [priorities] that we balance over time.
“There’s no doubt that we want to see the debt come down over time.
“We plan to do that,” he said.
ADT is a Boca Raton, Fla.-based provider of monitored security and interactive home and business automation solutions.
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