SOURCE: Allegiant Travel Company

Allegiant Travel Company

December 04, 2015 16:30 ET

Allegiant Travel Company Announces a Special Dividend of $1.65 per Share

LAS VEGAS, NV--(Marketwired - December 04, 2015) - The Board of Directors of Allegiant Travel Company (NASDAQ: ALGT) today declared a special cash dividend of $1.65 per share on its outstanding shares of Common Stock. This dividend will be payable on January 8, 2016 to stockholders of record at the close of business on December 18, 2015. The total amount of the special dividend payment will be approximately $28 million, based on the current number of shares outstanding.

"This action demonstrates our commitment to returning cash to shareholders," stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company. "Including our quarterly cash dividends, we will have given back $2.75 per share in dividends this year, an increase of $0.25 per share from 2014. We have also returned $129 million through share repurchases through November 30, 2015. The Board felt that it was appropriate at this time to issue this $1.65 dividend because of our financial performance, our healthy cash balances, and our ability to grow the company through aircraft purchases utilizing cash flows from operations."

Allegiant, Travel is our deal.®

Las Vegas-based Allegiant Travel Company (NASDAQ: ALGT) is focused on linking travelers in small cities to world-class leisure destinations. The company operates a low-cost, high-efficiency, all-jet passenger airline through its subsidiary, Allegiant Air, while also offering other travel-related products such as hotel rooms, rental cars, and attraction tickets. All can be purchased through the company website, Allegiant.com. The company has been named one of America's 100 Best Small Companies by Forbes Magazine for five consecutive years. In 2014, AVIATION WEEK ranked Allegiant the Top-Performing Airline in North America for the third consecutive year. For downloadable press kit, including photos, visit: http://gofly.us/PBqgm.

Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements are only estimates or predictions based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include our statements regarding future unit revenue, future operating expense, ASM growth, departure growth, fixed-fee and other revenues, expected capital expenditures, number of contracted aircraft to be placed in service in the future, as well as other information concerning future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believe," "expect," "guidance," "anticipate," "intend," "plan," "estimate", "project", "hope" or similar expressions.

Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in the forward-looking statements. Important risk factors that could cause our results to differ materially from those expressed in the forward-looking statements generally may be found in our periodic reports filed with the Securities and Exchange Commission at www.sec.gov. These risk factors include, without limitation, volatility of fuel costs, labor issues, the effect of economic conditions on leisure travel, debt covenants, terrorist attacks, risks inherent to airlines, demand for air services to our leisure destinations from the markets served by us, our dependence on our leisure destination markets, our competitive environment, an accident involving or problems with our aircraft, our reliance on our automated systems, our reliance on third parties who provide facilities or services to us, the possible loss of key personnel, economic and other conditions in markets in which we operate, aging aircraft and other governmental regulation, increases in maintenance costs and cyclical and seasonal fluctuations in our operating results.

Any forward-looking statements are based on information available to us today and we undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.

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