Entry 2 senses · 2 variants Webster, 1913 divvy /(dĭv"vy̆)/ · IPA /ˈdɪvi/ n. v. t. & i. 01 n. a dividend, especially one paid by a cooperative society. 1. a dividend, especially one paid by a cooperative society.[British] 02 v. t. & i. divide up among a group; distribute; -- often followed by up; as, divvy up the proceeds; divvy up the loot. 1. divide up among a group; distribute; -- often followed by up; as, divvy up the proceeds; divvy up the loot.[Colloq.]