09:47 AM EST, 12/05/2024 (MT Newswires) -- Garrett Motion ( GTX ) said Thursday its board declared a Q1 2025 dividend of $0.06 per share, payable Jan. 31 to shareholders of record Jan. 15.

The company said the board also approved a $250 million share repurchase program for 2025.

Garrett said the dividend and the buyback are part of its long-term capital allocation framework, under which it will target returning at least 75% of its adjusted free cash flow to shareholders over time.

The company's shares rose 7% in recent trading.

Price: 9.19, Change: +0.60, Percent Change: +6.98