The stock was up 12.3% to $6.30 on extended volume of around 52,000. The shares finished Tuesday's regular session at $5.61, up 3% on the day, but down more than 50% since hitting a 52-week high of $12.41 on Jan. 28.
Asia Entertainment said it expects to begin the repurchase program and announce the pay and record dates for the dividend after it reports its results for the six months ending June 30.
Other stocks active in Tuesday's late trading included Adobe Systems (ADBE - Get Report), which slumped 3% to 30.99 on volume of 1.5 million after the graphics design and publishing software developer reported its fiscal second-quarter results; and Jabil Circuit (JBL - Get Report), which edged up 12 cents to $18.97 on volume of more than 500,000 after the electronics manufacturing services provider edged Wall Street's expectations for its third quarter by a penny but gave an outlook for its fourth quarter that looks light.
Written by Michael Baron in New York.
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