Thousands of Asda staff will share in a record windfall of £50.9m after a share scheme matured.
Workers that set aside £50 a month will receive £2,808 – representing a 56% boost on their investment. Those saving the maximum £250 a month will get a bumper £14,008, £5,000 more than the £9,000 they ploughed into the scheme.
Almost 18,000 Asda staff will share in the bonanza.
“Our in-store and depot colleagues are the heart of our business and work tirelessly, week-in week-out,” said Asda’s executive people director Hayley Tatum.
“Giving our colleagues the chance to have a stake in the company is just one of our ways of saying thank you and a great way to ensure that they share in the success that their hard work has achieved.”
The Walmart Sharesave scheme allows Asda colleagues to divert between £5 and £250 from their monthly pay check. After three years they receive a tax-free bonus and are entitled to buy Walmart shares at a 20% discount. They can then sell off the shares at the current market rate. The scheme has paid out more than £530m since it launched in 1982.