IHOP Boosts Buyback

The house of pancakes cites its strong cash flow.
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IHOP (IHP) rose 4% after adding a million shares to its buyback plan.

"This increase in our share repurchase authorization reflects our continuing confidence in the strength of IHOP's core business and the Company's ability to generate significant cash flow," said Julia Stewart, CEO of the Glendale, Calif., pancake pusher. "Our current share repurchase program is just one of the ways IHOP can maximize shareholder value."

IHOP has bought back 3.3 million shares under a previous 3.6 million-share plan.

On Tuesday, IHOP rose $1.59 to $40.07.