PHINIA Inc. (NYSE: PHIN), a leading provider of premium fuel systems, electrical systems, and aftermarket products, has announced a quarterly cash dividend of $0.25 per common share. This dividend will be paid on September 13, 2024, to shareholders on record as of August 23, 2024.
Additionally, PHINIA’s Board of Directors has approved a $250 million increase to its existing $150 million share repurchase program. With this increase, approximately $263 million is now available for share repurchases. The shares may be repurchased through various methods, including open market transactions, private negotiations, and Rule 10b5-1 plans, subject to market conditions and SEC requirements. The repurchase program has no set expiration date and can be modified at any time.
About PHINIA
PHINIA, based in Auburn Hills, Michigan, is a leading provider of premium solutions and components with over 100 years of industry experience. The company operates with a strong brand portfolio, including DELPHI®, DELCO REMY®, and HARTRIDGE®. With over 13,000 employees across 44 locations in 20 countries, PHINIA specializes in fuel systems, electrical systems, and aftermarket solutions for both commercial and light vehicles. The company focuses on enhancing combustion engine performance and advancing alternative fuel technologies to drive sustainable, lower-carbon mobility.
