Shareholder

Identified investors by region

Identified investors by region (pie chart)

Identified investors by type

Identified investors by type (pie chart)

Owing to lower investor assessments of Merck’s growth potential, in particular the proportion of GARP investors increased in 2011 (GARP: growth at reasonable price). The proportion of value investors remained at a high level.

As of December 31, 2011, the following shareholders reported their holdings in Merck shares to the company in accordance with the German Securities Trading Act:

XLS

 

 

 

 

 

Number of shares held

% of free float

Reported on

Sun Life Financial Inc., Toronto (Canada)

6,175,369

9.56

1/21/10

Templeton Global Advisors Ltd., Nassau (Bahamas)

3,271,264

5.06

9/9/10

Templeton Investment Counsel LLC, Wilmington, DE (USA)

3,312,537

5.13

3/30/11

BlackRock Inc., New York, NY (USA)

3,270,245

5.06

4/15/11

Capital Research and Management Company, Los Angeles, CA (USA)

3,160,836

4.89

7/1/11

Deutsche Bank, Frankfurt (Germany)

2,894,577

4.48

4/10/10

MFS Institutional Advisors Inc., Boston, MA (USA)

1,955,336

3.03

11/9/11

Around 57% of shares represented at the Annual General Meeting

At the Annual General Meeting on April 8, 2011 in Frankfurt, 56.6% of the share capital was represented. In 2010, the figure was 58.2%. With the exception of agenda item 7, which concerned a resolution on the approval of a compensation system for members of the Executive Board and passed with 70.3% of the votes, more than 99% of the votes were in favor of each of the other five agenda items. Further details can be found on our website at www.merckgroup.com/en/investors.

Dividend

Owing to the good full-year results, the Executive Board will propose the payment of a dividend of € 1.50 for 2011, corresponding to an increase of 20% compared with 2010 and equivalent to a distribution ratio (total dividend payment as a proportion of net income) of 53%. Based on the closing price of Merck shares on December 30, 2011 of € 77.03, this corresponds to a dividend return of 1.95%. An update to our dividend policy is currently being discussed. We plan to present the outcome to the Annual General Meeting.