Allegiant Travel Company Announces a Special Dividend of $2.25 Per Share

The Board of Directors of Allegiant Travel Company (NASDAQ: ALGT) today declared a special cash dividend of $2.25 per share on its outstanding shares of Common Stock. This dividend will be payable on January 3, 2014 to stockholders of record at the close of business on December 13, 2013.

„This action demonstrates our commitment to returning cash to shareholders,” stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company. „The Board felt that it was appropriate at this time to issue this $2.25 dividend because of the strength of our performance, our healthy cash balances, and our ability to grow the company through strong cash flows from operations. We are distinctive in the industry as our unique business model allows us to not only grow through the acquisition of used aircraft, but also return cash to shareholders. The Board, while not committing to a regular dividend payment, will, however, consider cash dividends in the future as circumstances warrant.”

Allegiant currently has existing commitments to purchase two A320s in the second half of 2014 and to lease one A319 in 2014 and six A319s in 2015.

Source / Author: Allegiant