More than 216,000 Tesco staff, from checkout operators to drivers and managers will share a £105 million share bonus pot.
The retailer announced the share awards after reporting profits of £3.5 billion for the last year.
In addition, the 75,500 employees who have held shares in Tesco’s ‘Shares in success’ scheme since 2005 also today became eligible to sell the £39m worth of shares they were awarded five years ago tax free. Staff must have been employed by the firm for at least one year to be eligible for the scheme.
All eligible employees who registered for the free shares will receive the equivalent of 3.6% of their salary (as of 27 February 2010), up to a maximum of £3,000. Shares are held in trust for five years and then available to sell tax free.
This year’s bonus payout for staff comes on top of £24 million of pay and bonuses for the executive management who led the Tesco team.
Non-executive chairman, David Reid, said: “We have had Tesco’s best ever year in a really challenging economic climate and that success is down to the hard work and skill of the whole Tesco team. At home and abroad, they have helped build a great business by doing what we do best, delivering for customers. I am delighted that once again all staff are sharing in this success.”
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