Co-op divi makes a comeback

THE long lamented co-op divi is making a comeback through the Shareholders Card issued by one of the largest co-operatives, the Co-operative Retail Society, with stores in London, South Yorkshire, South Wales, the south coast and elsewhere, writes Paul Gosling.

The Shareholders Card, which doubles as a Co-operative Bank Visa credit card, attracts a 5 per cent dividend on non-food items, payable after the year-end. The card is open to members of the CRS who hold at least pounds 50 in shares, and was this week made available to members of the Leeds society.

Shares in CRS and Leeds offer 6.5 per cent interest for accounts of over pounds 50, or 7 per cent for sums of pounds 2,000 to pounds 10,000. The CRS also offers one- and two-year bonds which pay a fixed 7 per cent.

The largest society, the Co-operative Wholesale Society, offers a gold card in its north-eastern region only, which gives a 5 per cent dividend on non-food items. CWS shareholdings over pounds 50 attract 4 per cent interest; five-year bonds of over pounds 5,000 offer 7.625 per cent.