Allegiant increases its stock repurchase programme
Allegiant Travel Company will repurchase an additional $50m of the company's stock.
In July 2010, the company announced a $25m increase in its stock repurchase authority and has been repurchasing shares since 2008. Allegiant bought back 578,000 shares for $16.7m in 2008; 661,000 shares for $25.4m in 2009; and 1.1 million shares for $50m in 2010 to date. "With most of our growth for the next couple of years having already been funded… we are pleased to be able to prudently invest in our stock and continue to return funds to our shareholders in this manner," said Maurice Gallagher, chairman and CEO.
