More than 51,000 Tesco employees will share £175 million in one of the retailer’s largest share payouts as two of its sharesave (save-as-you-earn) schemes mature.
The Tesco share price was £4.16 when the scheme matured on 1 February, meaning that over 8,000 of employees stand to net over £8,500 each. This is equal to a 160% return on their investment.
Tesco’s chief executive, Sir Terry Leahy, said: “Our staff are amazing and they deserve to share in Tesco’s success. SAYE 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.”