Coop customers will receive lower "divvy" payments of 2% for a second year running.
Last year, many Islanders expressed their disappointment and anger when the 4% dividend payments that Members had traditionally received were halved to 2%.
But despite the backlash, the Board of the Channel Islands Coop recommended continuing with the halved dividend of 2% this year.
Coop members in both Jersey and Guernsey voted to accept the lower dividend at their recent The Annual Meeting of Members.
Members agreed to the proposal and customers are now able to withdraw the payout from their Coop accounts.
The Coop said that over 122,000 members across the two Islands can look forward to a share of £2.8 million dividend payment this year.
When the local retailer first wrote to Members last year to announce a proposition allowing its board to decide whether dividend rates should be reduced or removed, long queues of customers queued at the Coop’s Grande Marche store to withdraw their previous dividend funds from their accounts.
The move followed a net loss of £1.8 million in 2023, which the Coop blamed on ‘difficult trading conditions’. However, in its 2025 Annual Report, the Coop say that its latest accounts show improvements, with turnover increasing and a net profit of £800,000 in 2024.
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