Jersey members back 2% Coop dividend

Members of the Channel Islands Co-operative in Jersey voted to maintain the 2% rate for member shares, at their annual meeting, last night.

The Coop reported a net surplus of £800,000 last year, a significant recovery from the previous year's £1.8m loss.

The dividend was reduced from 4% to 2% after the almost £2m of losses in 2023 and on Tuesday evening members backed the decision to maintain it at 2% for another 12 months.

The plan will now be voted on by members in Guernsey on Wednesday evening.

Ahead of the annual meeting, CEO Mark Cox said 2024 had been a year of "real progress".

"We've returned to surplus, welcomed new members, and made impactful investments," he said.

"Our investment in engaging with members has shaped a more positive future.

It comes as the Coop continues to experience supply chain issues, following a cyber-attack which has led to empty shelves across the island.

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