Most probably the sunspot cycle period is ruled by a meridional flow located near the base of the convection zone (Hathaway et al. 2003). On the other hand, if the eddy diffusivity is low enough, dramatic modification of the standard α 2 Ω-dynamo by the meridional flow are expected. In this paper we shall discuss the dependence of periods, dynamo numbers and the sign of the current helicity as a function of the magnetic Reynolds number for a double cell meridional circulation and for a positive α-effect at the base of the convection zone. The dynamo action occurs at lower latitudes and its location is at the interface between equatorward and poleward motions near the base of the convection zone. In spite of the complexity of the flow pattern, our simulations show that the resulting dynamo action reproduces several observed features of the solar cycle.