More than 14,000 B&Q and Screwfix employees are to share a £15 million payout following the maturity of parent company Kingfisher Group’s three-year and five-year sharesave schemes.
Based on the closing share price of 375.9p on 29 November 2013, this equates to an average gain of £6,867 per person.
The majority of those to receive the windfall are B&Q employees (1,278 of the 1,426), with almost 100 employees from sister retailer Screwfix also set to benefit from the share schemes’ maturity.
Share scheme participants are set to gain between £181 and £41,011 each. Employees who joined the five-year share scheme in 2008 are set to make an average gain of £16,829, while those in the 2010 three-year plan made an average gain of £2,199.
Ian Cheshire, chief executive of Kingfisher Group, said: “At Kingfisher, we believe that employees who contribute to the long-term success of the organisation should also share in the rewards.
“Ours is a people business and it is the hard work of our staff that has delivered this performance, in difficult economic conditions.
“I am delighted that they are sharing in the benefits with this pre-Christmas windfall.”