Co-op Dividend - what is it?

Margot123

Sorry if I appear a bit thick.
I've searched the forums, trawled Google, and asked disinterested staff in The Co-op but can't find the answer.

I have a Co-op card which gives me 5% back on purchases, which I have used and totally understand BUT what the biily-o is the dividend?
How is it paid? When will it arrive?

TIA.

PasturesNew

You're right, it's confusing. Years ago my mum had a card and talked endlessly of her dividend, which was added to some CoOp "account" she had.

These days it's not so simple to understand - indeed, for starters the CoOp card is specific to areas/regions. Try to use your card away from home and you might find it doesn't exist, or it's a different system there. Your card is only good in the area that your local CoOp is associated with, their particular "regional group".

The Dividend was because you paid a small sum and "joined" the CoOp and got this "account" thing, your dividend (as a shareholder) was paid into that account. You were a shareholder, who benefitted from the profits of the CoOp, this was the dividend and paid into your member/shareholder account.

Not all Coops work like this now - so, you need to start by being specific about which particular Coop you belong to.

But there's usually a Member Account involved to receive payment - IF your particular Group pays a dividend.

Some might/have in the past added points to the card.

It is confusing because there is no single system. There might, or might not, be a dividend for your group.

antrobus

Margot123 wrote: »

Sorry if I appear a bit thick.
I've searched the forums, trawled Google, and asked disinterested staff in The Co-op but can't find the answer.

I have a Co-op card which gives me 5% back on purchases, which I have used and totally understand BUT what the biily-o is the dividend?
How is it paid? When will it arrive?

TIA.

The Co-operative has unveiled plans to bring back an annual payout for its millions of members.

The group suspended the dividend in 2014 when it posted huge losses.

As part of a major refresh, which also involves reviving its 1960s blue clover logo, the Co-op now plans to reintroduce the members' dividend by 2018.


See here;
http://www.bbc.co.uk/news/business-36353094

MysteryMe

I'm in the East of England Co op (green membership card) and get an annual dividend sent annually. It is based on the profits of the group. Throughout the year I get sent money off vouchers as well.

badmemory

My co-op is different. I have a light blue card & it includes the local co-op funeral. For every £1 I spend on co-op products I get 5p put on my card & 1p to charity. I also got a significant bonus when I bought my co-op funeral. It can be spent whenever you use your card. I think mine may be the original co-op as I believe it was founded in Rochdale which is not that far away. What I earn on each shop shows on my receipt, although my balance does not.

MysteryMe

I've got a blue card co op membership as well. I think that is the main co op and covers most of the country. I've used it in Chelmsford and Torquay.

maman

I don't think it's so much regional as that the Co-op have franchises. That may explain why the card's not acceptable everywhere.


There are two near me, one at each end of my road.


One has a green livery, one has blue. One sells the milk I like, the other doesn't. I asked the staff why and they said it's a different company, giving the example that they couldn't transfer from one store to the other they'd have to apply as if it was a completely different company.

antrobus

maman wrote: »

I don't think it's so much regional as that the Co-op have franchises. That may explain why the card's not acceptable everywhere.

I believe that there are a few Co-op franchises, but there are more regional co-op stores.

The Co-operative Group, which once owned the bank, is the product of a long and complicated series of mergers of a multitude of regional co-ops. Some regional co-ops, about a couple of dozen or so, remain 'independent'. They may well have a trading relationship with Big Co-op, but they do their own thing. One of them runs Co-op Energy.

maman

antrobus wrote: »

I believe that there are a few Co-op franchises, but there are more regional co-op stores.

The Co-operative Group, which once owned the bank, is the product of a long and complicated series of mergers of a multitude of regional co-ops. Some regional co-ops, about a couple of dozen or so, remain 'independent'. They may well have a trading relationship with Big Co-op, but they do their own thing. One of them runs Co-op Energy.

That would make sense. Both the stores close to me sell Co-op branded goods so there obviously is a trading relationship but there are differences in what they stock.
I originally thought it was because one has a (wealthy Chinese) student customer base and the other is more a lower income housing development and passing trade.
Now I'm not so sure! :rotfl:

antrobus

maman wrote: »

That would make sense. Both the stores close to me sell Co-op branded goods so there obviously is a trading relationship but there are differences in what they stock.
I originally thought it was because one has a (wealthy Chinese) student customer base and the other is more a lower income housing development and passing trade.
Now I'm not so sure! :rotfl:

The wiki entry on the British co-operative movement, (scroll down) allegedly has a list of retail societies.
https://en.wikipedia.org/wiki/British_co-operative_movement

Depending on where you live, it might give you a clue.

Midcounties is the biggest regional. I think they are the one that do energy.

Margot123

Thanks everyone.

I've taken a look at my Co-op account page and all it says is the dividend is paid annually. The information is very scant as it doesn't say when or how.

I'll just look on it as a little bonus if some vouchers or whatever turn up in the post.