Published November 19, 2015 8:09am EST | Updated November 19, 2015 9:05am EST

ETrade Board Approves Share Buyback Of Up To $800 Mln

ETrade Financial Corp. said Thursday its board has approved a share buyback of up to $800 million. The new authorization is the first time in more than eight years that the online brokerage will return money to shareholders through a share buyback. Shares rose 1.1% in premarket trade, and are up 22% in the year so far, while the S&P 500 has gained 1.2%.