Qualcomm CEO Cristiano Amon said in an interview with Jim Cramer that the company is currently focusing on dividends to boost share value rather than buybacks. It is reported by CNBC.

“We have increased our dividends. We've been talking about year-over-year dividend targets, high single-digit and low double-digit growth rates, and we're going to continue looking for opportunities for opportunistic share buybacks," Cristiano Amon said in an interview with Mad Money.

On March 9, Qualcomm announced that it approved a 10% quarterly dividend increase from $0.68 to $0.75 per share, as well as raising its annual dividend payout to $3 per share.

The CEO's comments came after Jim Cramer asked why Qualcomm wasn't buying back its shares.