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Allegiant Travel to pay $2-per-share dividend

LAS VEGAS (AP) -- Allegiant Travel Co., the parent of Allegiant Air, said Tuesday that it will pay a special dividend of $2 per share next month.

The company cited its recent performance and cash balance but stopped short of committing to a regular dividend payment.

The dividend will be payable Dec. 14, to shareholders as of Nov.30.

The company sells flights, hotel rooms and rental cars. Allegiant Air charges low fares, with an assortment of fees, to link travelers from smaller cities to resort areas.

Last month Allegiant reported that third-quarter profit rose 79 percent from a year earlier, to $16.9 million. On Sept. 30 it had $371.9 million in unrestricted cash and $153.7 million in debt.

Allegiant shares fell 83 cents to close at $72.49 before the dividend was announced. In the past year, they have ranged from $47.32 in November 2011 to $76.21 earlier this month.