Tesco Plc has announced that it will be giving it's largest ever share payout of Â£175 million, to 51,000 of it's employees who are part of its Save As You Earn share scheme which allows Tesco employees to buy shares in the company at a discounted price.
Tesco share prices were Â£4.16 when the share scheme matured on 1 February. The company said that over 8,000 top savers with the scheme including: checkout assistants, dot.com delivery drivers and head office staff; could net over Â£8,500 each, representing a 160 per cent return on investment.
Some beneficiaries have put the money towards weddings, cars, holidays or towards mortgages and savings. However 68 per cent of recipients have re-invested the money.
Sir Terry Leahy, Chief Executive, said, Save As You Earn schemes are becoming a more popular way to save. One in three staff now save with one of our share schemes and I'm delighted that so many choose to invest and enjoy the rewards of their hard work.