Stagecoach Group employees are to share in a £15.1m payout under its 2005 sharesave (save-as-you-earn) scheme, which matured yesterday.
More than 2,400 bus and rail drivers, engineers and other workers will share in the windfall. They will, on average, receive around £6,300, providing them each with gains of more than £3,600 on average.
Stagecoach’s share price has more than doubled over the three years since the scheme was launched, rising from around 115p in April 2005 to a closing price on 31 March of 242p, producing a return of around 145% on investments under the scheme.
John Hamilton, director of pensions and benefits, said: “Our employees have been at the heart of the growth of our company and it is right that they can share in the success of the business through the scheme.”