IHOP Increases Buyback By 1 Million Shares
IHOP Corp. approved a 1 million share increase in its share repurchase authorization, bringing the total to 4.6 million shares.
IHOP said, as of Aug. 28, it has bought back 3.3 million shares since the beginning of its repurchase program in January 2003.
IHOP President and CEO Julie Stewart said the repurchase program is a way for the company to maximize shareholder value. "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," Stewart said.
Glendale-based IHOP Corp. (NYSE:IHP) franchises and operates IHOP restaurants, known for pancakes, waffles, and French toast.
IHOP President and CEO Julie Stewart said the repurchase program is a way for the company to maximize shareholder value. "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," Stewart said.
Glendale-based IHOP Corp. (NYSE:IHP) franchises and operates IHOP restaurants, known for pancakes, waffles, and French toast.