Net dividend per share  (excluding the tax credit)

The dividend paid for fiscal year 2011 amounts to €0.10 per share, i.e. a dividend payout ratio of 24%.

Dividend ex-date: June 1, 2012

Dividend payment date: July 6, 2012.

Tax treatment

• Resident shareholders
  Dividend payment is subject to social contributions withholding tax for individual residents. The rate of these social contributions amounts to 13.5%.

Dividend is taxable at the progressive rate of personal income tax, after deduction of eligible allowances provided for in Article 158 of the French General Tax Code, unless the beneficiary has opted for flat-rate withholding tax. The withholding tax rate has been set to 21%, subject to change.

• Non-resident shareholders

The payment of a dividend is submitted to a 30% withholding tax for non-resident shareholders, except when international agreements apply.

The beneficiaries residents of another State member of the European Union may benefit from a 21% withholding tax rate, except when international agreements apply.

• Shareholders holding their shares in a PEA (Personal Equity Savings Plan)

Dividends received as part of the PEA are not subject to tax.

The dividend is not submitted to the social contributions withholding tax when distributed.

This dividend is added to the net asset value for the calculation of gain made as part of the PEA.

Net dividend per share in EUR (excluding the tax credit)

Financial year 2011: 0.10
Financial year 2010: 0.23
Financial year 2009:   –
Financial year 2008:   –
Financial year 2007: 0.45
Financial year 2006: 0.86*
Financial year 2005: 5.00
Financial year 2004: 3.30
Financial year 2003: 2.50

 * After 10-for-1 stock split