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Suffolk Co-op shows the way

PUBLISHED: 04:30 02 May 2002 | UPDATED: 11:50 03 March 2010

IPSWICH and Norwich Co-op is showing the way forward to other societies across the country – by keeping faith with the famous divi.

Here in Suffolk, the society has always kept paying out dividend to customers, even when many other co-operative societies scrapped the scheme.

IPSWICH and Norwich Co-op is showing the way forward to other societies across the country – by keeping faith with the famous divi.

Here in Suffolk, the society has always kept paying out dividend to customers, even when many other co-operative societies scrapped the scheme.

Now the Co-operative Group, based in Manchester is looking to go back to its roots and reintroduce the popular payments in other parts of Britain.

"We have always kept paying the divi in Ipswich, ever since 1868, without a break," said assistant general manager Bill Knowles today.

"It is very popular – just about all our customers have divi numbers and some people also choose to give the money to charity."

Mr Knowles welcomed the news that other Co-ops are set to reintroduce dividend. "This will help to get across the message that the Co-op means divi," he commented.

Ipswich and Norwich Co-op pays dividend on members' purchases from all stores and dairy rounds twice yearly.

The divi is paid at a rate of 5p in the pound on purchases from department stores, pharmacy, optical and funeral services; 3p in the pound for local food stores in the Ipswich area and dairy rounds; 2.5p in the pound for local food stores in the Norwich area; and 1.25p in the pound for purchases from Solar stores.


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