** Shares of Academy Sports and Outdoors ASO.O rise 4.1% to $51.49 in extended trading as co plans to buy back more stock
** Texas-based sporting goods retailer said board approved new repurchase program up to $700 mln
** New program replaces prior program, of which $423 mln remained, and is effective today, for period of three years
** Co also announces qtrly cash dividend of $0.11/sh payable on Jan 15 to holders of record as of Dec 18
** ASO has ~70.3 mln shares outstanding for about $3.5 bln market cap, per LSEG
** Shares on Weds closed down 1% at $49.45. YTD, stock has lost 25%
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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