Garrett Motion Announces Long-Term Capital Allocation Framework, Including New Quarterly Dividend and $250M Share Repurchase Program for 2025

Core Viewpoint - Garrett Motion Inc. has adopted a long-term capital allocation framework aimed at returning 75% or more of its Adjusted Free Cash Flow to shareholders through share repurchases and quarterly cash dividends, reflecting a commitment to shareholder value while investing in future growth technologies [1][2]. Capital Allocation Framework - The new framework includes a target of approximately $50 million in total dividends for 2025, with the first quarterly dividend set at $0.06 per share, payable on January 31, 2025 [1]. - A share repurchase program for 2025 has been approved, allowing the company to repurchase up to $250 million of its common stock throughout the year [1][3]. - The company has previously repurchased $438 million in stock since the conversion of its Series A Preferred Stock through Q3 2024 [3]. Financial Management - The company has de-levered approximately $400 million since the conversion of its Series A Preferred Stock, indicating prudent debt management [3]. - The capital allocation strategy is supported by a flexible cost structure and strong cash generation capabilities, ensuring the company can maintain its investment in differentiated technology while returning value to shareholders [2]. Technology Investment - Garrett Motion remains committed to balanced R&D investments, focusing on advancing zero-emissions solutions and expanding turbo offerings to support growth in hybrid vehicles and industrial applications [2].