Garrett Motion Declares a Cash Dividend on Series A Preferred Stock
09 March 2023 - 8:10AM
Garrett Motion Inc. (Nasdaq: GTX,
GTXAP), a leading differentiated automotive technology
provider, today announced that the first quarter dividend for the
Series A 11% PIK Preferred Stock will be made in cash and is in
lieu of allowing the first quarter dividend to accrete. On March 8,
2023, the Disinterested Directors Committee of the Board of
Directors of Garrett declared a quarterly cash dividend of $0.17
per share, which will be paid on April 3, 2023, to holders of
record as of the close of business on March 22, 2023.
About Garrett Motion Inc.
Garrett Motion is a differentiated technology leader, serving
customers worldwide for more than 65 years with passenger vehicle,
commercial vehicle, aftermarket replacement and performance
enhancement solutions. Garrett’s cutting-edge technology enables
vehicles to become cleaner, more efficient and connected. Our
portfolio of turbocharging, electric boosting and automotive
software solutions empowers the transportation industry to redefine
and further advance motion. For more information, please visit
www.garrettmotion.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of fact, that address
activities, events or developments that we or our management
intend, expect, project, believe or anticipate will or may occur in
the future are forward-looking statements including, without
limitation, our statements regarding our capital structure.
Although we believe forward-looking statements are based upon
reasonable assumptions, such statements involve known and unknown
risks, uncertainties, and other factors, which may cause the actual
results or performance of Garrett to be materially different from
any future results or performance expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
but are not limited to those described in our annual report on Form
10-K for the year ended December 31, 2022, as well as our other
filings with the Securities and Exchange Commission, under the
headings “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements.” You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this document. Forward-looking statements are not
guarantees of future performance, and actual results, developments
and business decisions may differ from those envisaged by our
forward-looking statements.
Contacts: |
Media |
Investor Relations |
|
Christophe Mathy |
Eric Birge |
|
+41 786 43 71 94 |
+1 734 228 9529 |
|
christophe.mathy@garrettmotion.com |
eric.birge@garrettmotion.com |
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