SOURCE: Allegiant Travel Company

Allegiant Travel Company

December 03, 2014 16:59 ET

Allegiant Travel Company Announces a Special Dividend of $2.50 per Share

LAS VEGAS, NV--(Marketwired - December 03, 2014) - The Board of Directors of Allegiant Travel Company (NASDAQ: ALGT) today declared a special cash dividend of $2.50 per share on its outstanding shares of Common Stock. This dividend will be payable on January 6, 2015 to stockholders of record at the close of business on December 19, 2014. The total amount of the special dividend payment will be approximately $44 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. "The Board felt that it was appropriate at this time to issue this $2.50 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. Through the third quarter of 2014, we have returned over $171 million back to shareholders this year through our share repurchase program and a previous special dividend declared last year, while at the same time we have purchased twenty-four aircraft for future growth. The Board, while not committing to a regular dividend payment, will, however, consider cash dividends in the future as circumstances warrant."

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/FiYDS.

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