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to divide or distribute by share or portion; distribute or parcel out; apportion:
to allot the available farmland among the settlers.
to appropriate for a special purpose:
to allot money for a park.
to assign as a portion; set apart; dedicate.
Contemporary Examples

There are five U.S. commonwealths and territories that are allotted delegates at the Republican convention.
Guam and Saipan Make Tempting Targets for Delegate-Hungry GOP Candidates Ben Jacobs March 9, 2012

Thirteen percent of South African land was allotted to black citizens during apartheid.
Reel Numbers: The Golden Globe Nominees Are… (Video) The Daily Beast Video January 11, 2014

Imagine if President Obama, elected in 2008, had been allotted just one six-year term coming to a close at the end of 2014.
Why One Six-Year Presidential Term Would Be Good for America Myra Adams December 4, 2013

This is optional, but to test if the chicken is done, pokes the thigh with a knife once the allotted time is up.
The Perfect Roast Chicken Petrit Husenaj October 19, 2010

They try to scare you straight, and more money needs to be allotted to educate people about HIV/AIDS.
Taylor Kitsch on ‘The Normal Heart,’ Homophobic Right-Wingers, and Gays in the Military Marlow Stern May 22, 2014

Historical Examples

I had not made above a dozen turns upon my allotted bounds, when the same sounds fell upon my ears, but much more distinct.
Wilson’s Tales of the Borders and of Scotland Various

To Billy Brue was allotted the easiest as being the most probable route.
The Spenders Harry Leon Wilson

Baptiste Verenne and the drivers arose, taking the allotted portion of thawed whitefish.
The Law of the North (Originally published as Empery) Samuel Alexander White

But she had allotted their rooms well, and they approved her judgment.
Weighed and Wanting George MacDonald

In 1503 Botticelli was one of the artists consulted as to the position which should be allotted to the great sculptor’s “David.”
Botticelli Henry Bryan Binns

verb (transitive) -lots, -lotting, -lotted
to assign or distribute (shares, etc)
to designate for a particular purpose: money was allotted to cover expenses
(foll by to) apportion: we allotted two hours to the case
v.

late 15c., from Old French aloter (Modern French allotir) “to divide by lots, to divide into lots,” from à “to” (see ad-) + loter “lot,” a word of Germanic origin (cf. Gothic hlauts, Old High German hloz, Old English hlot; see lot). Related: Allotted; allotting.