Third person singular present tense of dispel; drives away, scatters, or causes to vanish.
From dispel + -s (third person singular present tense marker for regular verbs). This is the standard present tense form used with he/she/it/one.
Notice how 'dispells' (with double L) is a variant spelling that shows the archaic form—modern English spells it 'dispels' with a single L, following the pattern of words like 'compel/compels.'
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