A round one penny dividend token of The Wakefield Industrial Society Ltd (Wakefield Co-operative). Both sides are identical.
Dividend tokens to the value of the amount spent were handed to co-op customers for each transaction. When a number of tokens had been collected, they could be exchanged for a single token of higher denomination. Each year, a dividend, expressed in pence per pound, was declared, and holders of the tokens were able to exchange them for cash at that rate. If the rate was judged to be too low, holders of the tokens could retain them in the hope that it would improve the following year.
The Wakefield Industrial Co-operative Society opened their first shop on Bank Street in 1867.