The Collaborative International Dictionary of English v.0.48:

divvy \divvy\ (d[i^]v"v[y^]), n. [shortened from dividend.]
   a dividend, especially one paid by a cooperative society.
   [British]
   [WordNet 1.5]

The Collaborative International Dictionary of English v.0.48:

divvy \div"vy\ (d[i^]v"v[y^]), v. t. & i. [shortened from
   divide.]
   divide up among a group; distribute; -- often followed by up;
   as, divvy up the proceeds; divvy up the loot. [Colloq.]
   [PJC]

WordNet (r) 3.0 (2006):

divvy
    n 1: short for dividend; especially one paid by a cooperative
         society