Share Capital Breakdown as of 31st December 2008

BOIRON has been listed on the stock exchange since 1987. The capital is divided between the BOIRON family, the Group Pierre FABRE, the employees, the public and the treasury shares.

Change in the dividend per share

in euros (excluding tax credits) - adjusted data

Dividend increased by 9.1%.
The payout rate totals 33% of net income.

Share issued

2004
in euros
2005
in euros
2006
in euros
2007
in euros
2008
in euros
Number of shares 18 672 000 20 672 000 22 006 286 22 006 286 21 947 566
Adjusted master data pershare (1)
Net income (3) 1.19 (4) 0.81 (5) 0.47 (6) 1.25 (7) 1.80
Cash flow (3) 1.91 (4) 2.19 (5) 1.71 (6) 2.84 (7) 3.74
Net dividend 0.52 0,37 0.30 0.50 0.60
Distribution rate 43.8 % 49.5 % 64 % 40 % 33 %
Closing Rate (adjusted data) 24.50 21.70 18.29 18.38 17.34
Return (Net Divided / Closing Rate) 2.1 % 1.71 % 1.64 % 2.7 % 3.46 %
Price Earning Ratio (Year 2007) 20.59 26.79 39.08 14.70 9.63
Monthly average volume (adjusted data) 237 382 380 898 388 577 290 828 243 328
Market capitalization of Decembre 31 (in millions) 457 478 402 404 381

(1) Considering of the attributions of free shares : a new one for an old one on 07/02/1997 and of the division of the nominal by 4 on 07/01/2003, and integrating the treasury shares holt by company.
(2) Calculations taking into account 71,192 treasury shares held by the company at 12/31/2003.
(3) Calculations taking into account 64,522 treasury shares held by the company at 12/31/2004.
(4) Calculations taking into account 54,286 treasury shares held by the company at 12/31/2005.
(5) Calculations taking into account 101,297 treasury shares held by the company at 12/31/2006.
(6) Calculations taking into account 117,198 treasury shares held by the company at 12/31/2007.
(7) Calculations taking into account 265,414 treasury shares held by the company at 12/31/2008.

Dividends not claimed withing five years of their payment date lapse (French Civil Code article 2277). They are then paid over to the State.