Pickens Wants Higher Koito Dividend: Texas-based oilman...

Pickens Wants Higher Koito Dividend: Texas-based oilman T. Boone Pickens Jr. is demanding that Koito Manufacturing Co., in which he is the largest shareholder, pay an increased dividend for the first half of fiscal 1989, Koito said. In a letter received by Koito, Pickens demanded that it increase its dividend to 7 Japanese yen per share from 5 yen, Koito spokesman Shinji Hagiwara said. He said Koito would notify Pickens of its decision after company executives meet on Nov. 21. Pickens has been battling the management of Koito, a Japanese auto parts maker, for representation on its board. In his letter, Pickens said the extra dividend payment would not go to the Azabu Motors Co. group, from which Pickens bought many of his shares, Hagiwara said.