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[34] Net cash flows from financing activities 

Disclosed dividend payments and transfers of profits in accordance with the Articles of Association were broken down as follows in the fiscal year:

XLS

€ million

2009

2008

Dividends to shareholders

–96.9

–206.8

Dividends to minority shareholders

–7.9

–5.7

Dividend payments

–104.8

–212.5

 

 

 

€ million

2009

2008

Profit transfer in accordance with the Articles of Association from
E. Merck KG to Merck KGaA

0.6

1.8

Profit transfer in accordance with the Articles of Association from
Merck KGaA to E. Merck KG

–217.9

–126.5

Changes in reserves of Merck KGaA by E. Merck KG

66.3

–80.3

Profit transfer from Merck KGaA to E. Merck KG

–151.0

–205.0

Profit transfer from Merck & Cie KG to E. Merck KG

–26.8

–34.9

Profit transfer to E. Merck KG

–177.8

–239.9

 

 

 

Changes in financial liabilities to E. Merck KG

20.6

4.7

Changes in other liabilities to E. Merck KG

–53.2

–295.7

Changes in liabilities to E. Merck KG

–32.6

–291.0

 

 

 

Cash transfer with E. Merck KG

–210.4

–530.9

Free cash flow after dividend payments and profit transfers totaled € 529.8 million (2008: € –14.0 million).

© Merck KGaA, Darmstadt, Germany, Last Update 2010/02/23