FATFlyer
Topic Author
Posts: 4446
Joined: Fri May 18, 2001 4:12 am

Allegiant Announces One-Time Dividend Of $2/share

Wed Nov 14, 2012 7:23 pm

Allegiant has announced a special one-time dividend of $2/share to shareholders of record as of November 30. The dividend will be paid on December 14.
http://ir.allegiantair.com/releasedetail.cfm?ReleaseID=721022

The cost of the dividend payment is approximately $38 million. As of Sept 30, G4's balance sheet listed $357.1 million in cash and short-term investments.

The last time G4 issued a one-time dividend was on June 1, 2010, the amount of that payment was $0.75/share.

Allegiant currently has no plan to begin issuing a regular quarterly dividend.
"Travel is fatal to prejudice, bigotry, and narrow-mindedness." - Mark Twain
 
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mariner
Posts: 18412
Joined: Fri Nov 23, 2001 7:29 am

RE: Allegiant Announces One-Time Dividend Of $2/share

Wed Nov 14, 2012 7:28 pm

Quoting FATFlyer (Thread starter):
Allegiant has announced a special one-time dividend of $2/share to shareholders of record as of November 30. The dividend will be paid on December 14.

Very good news.

I'm still kicking myself that I didn't buy a few Allegiant shares at the time of the IPO.  

mariner
aeternum nauta
 
FATFlyer
Topic Author
Posts: 4446
Joined: Fri May 18, 2001 4:12 am

RE: Allegiant Announces One-Time Dividend Of $2/share

Wed Nov 14, 2012 9:02 pm

Quoting mariner (Reply 1):
I'm still kicking myself that I didn't buy a few Allegiant shares at the time of the IPO.

You and me both.
"Travel is fatal to prejudice, bigotry, and narrow-mindedness." - Mark Twain
 
rgreenftm
Posts: 140
Joined: Sat Jan 26, 2008 12:15 am

RE: Allegiant Announces One-Time Dividend Of $2/share

Wed Nov 14, 2012 9:05 pm

I'm kind of surprised any airline is issuing a dividend in this environment. It would seem they would want to hoard cash for the inevitable down turn that seems to be pretty near cyclical these days.
 
slcdeltarumd11
Posts: 3341
Joined: Fri Jan 09, 2004 7:30 am

RE: Allegiant Announces One-Time Dividend Of $2/share

Wed Nov 14, 2012 9:12 pm

Cool news! Nice to see Allegiant Giving back. It just seems to be such a well run airline who makes great decisions
 
ouboy79
Posts: 4114
Joined: Sun Nov 18, 2001 1:48 pm

RE: Allegiant Announces One-Time Dividend Of $2/share

Wed Nov 14, 2012 9:19 pm

Quoting rgreenftm (Reply 3):
I'm kind of surprised any airline is issuing a dividend in this environment. It would seem they would want to hoard cash for the inevitable down turn that seems to be pretty near cyclical these days.

They have relatively very low costs and target markets that are probably more resistant to any downturn. Consider how well they are doing out of Rust Belt cities that haven't had strong recoveries like some oil/gas cities to vacation areas.
 
N908AW
Posts: 864
Joined: Thu Aug 11, 2005 1:05 pm

RE: Allegiant Announces One-Time Dividend Of $2/share

Thu Nov 15, 2012 4:19 pm

Quoting rgreenftm (Reply 3):
I'm kind of surprised any airline is issuing a dividend in this environment. It would seem they would want to hoard cash for the inevitable down turn that seems to be pretty near cyclical these days.

Allegiant has had pretty darn consistent growth and revenue for quite some time -- two very good reasons for a dividend.
'Cause you're on ATA again, and on ATA, you're on vacation!
 
ytib
Posts: 375
Joined: Sun Nov 07, 2004 3:22 am

RE: Allegiant Announces One-Time Dividend Of $2/share

Thu Nov 15, 2012 4:25 pm

Quoting slcdeltarumd11 (Reply 4):
Cool news! Nice to see Allegiant Giving back. It just seems to be such a well run airline who makes great decisions

Agree, except for the word 'airline', it is a 'travel company'
  
 
FATFlyer
Topic Author
Posts: 4446
Joined: Fri May 18, 2001 4:12 am

RE: Allegiant Announces One-Time Dividend Of $2/share

Thu Nov 15, 2012 5:03 pm

Quoting rgreenftm (Reply 3):
I'm kind of surprised any airline is issuing a dividend in this environment. It would seem they would want to hoard cash for the inevitable down turn that seems to be pretty near cyclical these days.

Allegiant will still have roughly $320 million in cash/short-term investments after the dividend. Total operating expenses in the last quarter were roughly $188 million. I think they still will have a pretty good sized hoard.
"Travel is fatal to prejudice, bigotry, and narrow-mindedness." - Mark Twain
 
diverdave
Posts: 486
Joined: Sun Mar 07, 2010 1:00 am

RE: Allegiant Announces One-Time Dividend Of $2/share

Thu Nov 15, 2012 6:55 pm

Quoting rgreenftm (Reply 3):
I'm kind of surprised any airline is issuing a dividend in this environment. It would seem they would want to hoard cash for the inevitable down turn that seems to be pretty near cyclical these days.

It's quite likely they are issuing the dividend before the expiration of the Bush tax cuts, which included a special lower tax rate for qualifying dividends. The maximum tax rate is 15% right now, could go as high as 39.6% on 1/1/2013.

David

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