Allegiant Travel Company Announces One-Time Dividend of $0.75 per Share

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Apr 26, 2010, 07:00 ET

LAS VEGAS, April 26 /PRNewswire-FirstCall/ -- The Board of Directors of Allegiant Travel Company (Nasdaq: ALGT) today declared a one-time dividend of $0.75 per share on its outstanding shares of Common Stock. This dividend will be payable on June 1, 2010 to stockholders of record at the close of business on May 14, 2010.

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Commenting on the dividend action, Maurice J. Gallagher, Jr., Chairman and CEO, commented, "The Board felt it was appropriate to return to shareholders on this one-time basis a $.75 dividend because of the strength of our performance, cash balances and continuing ability to generate strong cash flows from operations. The Board, while not committing to a regular dividend payment, will, however, consider cash dividends in the future as circumstances warrant. This one-time payment demonstrates the Board's commitment to maximize return to stockholders, while continuing to maintain a substantial liquid position that, along with anticipated future free cash flows, should be more than adequate to meet our capital requirements."

About the Company

Las Vegas-based Allegiant Travel Company (Nasdaq: ALGT) is focused on linking travelers in small cities to major leisure destinations such as Las Vegas, Orlando, Fla., Tampa/St. Petersburg, Fla., Phoenix-Mesa, Los Angeles and Fort Lauderdale, Fla. Through its subsidiary, Allegiant Air, the Company operates a low-cost, high-efficiency, all-jet passenger airline offering air travel both on a stand-alone basis and bundled with hotel rooms, rental cars and other travel related services. ALGT/G

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 cash flows. 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," "anticipate," "intend," "plan," "estimate", "project" 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, the effect of the economic downturn on leisure travel, increases in fuel prices, terrorist attacks, risks inherent to airlines, demand for air services to our leisure destinations from the markets served by us, our ability to implement our growth strategy, possible unionization efforts, our dependence on our leisure destination markets, our ability to add, renew or replace gate leases, our competitive environment, problems with our aircraft, dependence on fixed fee customers, our reliance on our automated systems, economic and other conditions in markets in which we operate, 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.

SOURCE Allegiant Travel Company