Unlike other retailers, we return profits to you, our Members, in the form of dividend, remaining profit goes toward taxes and investing back into the Society.
Dividend earned on purchases
Whenever you quote your share number in our stores, a dividend will be earned on qualifying purchases. This is currently 4p for every £1 spent excluding GST, though this could be subject to change. The dividend rate is approved at our AMM in May.
Your dividend value is automatically calculated during the trading year, which ends on the second Sunday in January. You can draw your Dividend as cash after the annual AMM or leave it in your share account to gain interest. You can collect your dividend from any of our Co-op Post Office counters; click here for details, locations and opening times.
When you shop with us on Tuesday or Wednesday you’ll receive bonus dividend stamps* (this doesn’t include En Route petrol stations) which you can either spend in-store like cash or pay them into your share account and earn interest.
* We don’t issue double dividend in December.
During December, each complete £1 card of stamps is worth £1.05 for Christmas shopping in your Co-operative food stores.
What you won’t earn dividend on
Here’s a list of items that dividend isn’t applied to:
- Besco dry cleaning services
- Fax machine usage
- Gift vouchers
- Guernsey Electricity Key Card
- Home delivery charges
- Lottery tickets
- Parking paycards
- Pay as you go SIM and top up cards (Airtel, JT & Sure)
- Postage Stamps
- Raffle Tickets
- School Bus Tickets
- Speed Dial Cards
Financial peace of mind for you
We follow a voluntary code of practice that governs co-operative societies and which requires that we provide you with a statement about the nature of your investment and any change affecting it:
The position you occupy as a shareholder of the Society is no different from that of a shareholder in any other body corporate in the sense that, if the Society fails, you may not have all, or any, of your investment returned to you. Your investment is withdrawable without penalty at the discretion of the Board. The Society is not a Bank and is therefore not covered by a banking deposit protection scheme.
Only one change has occurred during the year which related to interest rates, these were notified separately.
We are pleased to confirm that your investment in the Society is backed by our net assets of over £54 million and our independent Auditor reports annually to the Financial Commissions of Jersey and Guernsey that deposits held with us do not exceed 100% of our most recently published capital and reserves.
You can view our latest audited financial statements by using this link.