“We have increased our dividend. We have talked about annual dividend targets, high single-digit rates, low double-digit growth rates and we will continue to look for opportunity repurchases,” Amon told Mad Money. Qualcomm announced on March 9 that it had approved a quarterly cash dividend increase of 10%, raising the dividend from 68 cents to 75 cents per share and raising its annual dividend payment to $ 3 per share. “We want to maintain strategic flexibility, also for mergers and acquisitions, because we see that diversification works for the company … We want it to grow faster,” Amon said. The CEO’s comments come after Cramer questioned why Qualcomm is not buying its shares again. Shares of the chip fell last Friday after JPMorgan removed Qualcomm from its Analyst Focus in April, but rose 4.64% on Monday, leading to a bigger rally in tech stocks. The company announced Monday that it has completed the acquisition of Arriver by SSW Partners in a move to improve the Advanced Driver Assistance System software. Disclosure: Cramer’s Charitable Trust owns shares in Qualcomm. Join the CNBC Investing Club now to follow every Jim Cramer move in the market. Denial of responsibility Questions about Cramer? Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer’s world? Hit him! Crazy Money Twitter – Jim Cramer Twitter – Facebook – Instagram Questions, comments, suggestions for the “Mad Money” website? [email protected]
