Travis Perkins staff to share £17m sharesave payout
More than 7,000 Travis Perkins employees are to share nearly £17 million following the maturity of a five-year sharesave scheme on 1 December.
This could amount to profits of £50,000 per employee.
The home improvement organisation’s share price has risen by 50% over the past 12 months, to 1,757p on 10 December.
The three-year and five-year sharesave schemes were launched in 2002. These were available to all employees across the Travis Perkins Group, which includes businesses such as Keyline, Tile Giant, ToolStation and Wickes.
Carol Kavanagh, group HR director at Travis Perkins, said: “Our employees are vital to the success of each business in the group, and the scheme is a great way for our employees to share in the group’s success by being rewarded for their contribution.
“Employees who contributed £250 a month into our 2008 five-year scheme now have a total investment worth more than £62,000 (based on the share price on 10 December), which is a great way to save for the future and certainly delivers a very nice windfall for those who’ve invested in the scheme.”