Asda shares scheme in record payout

AsdaAsda workers are to pocket a record £61.7 million thanks to a share save scheme.

The supermarket retailer said 19,040 staff members will benefit as its parent company Walmart's Sharesave scheme matures. Some will get a windfall of more than £15,500.

The scheme allows workers to set aside between £50 and £250 of their salary every month for a three-year period.

At the end of the three years they were given the opportunity to buy shares in Walmart at a 20% discount on the market value in 2010, while they also received a small tax-free bonus. They are then able to sell the shares at today's market rate, offering the chance to cash-in with a profitable return.

A worker saving £50 a month over the period will receive more than £3,000, while someone who saved the maximum amount of £250 a month will take home more than £15,500.

Since the scheme began in 1982, Asda workers are said to have shared over £650 million.

Hayley Tatum, the company's executive people director, said: "This record bonus pot reflects the success we've seen this year, all of which is down to the hard work and commitment of our colleagues across the business.

"Giving our colleagues the chance to save each month, risk-free is just one of our ways of saying thank you and a great way to ensure that they reap the rewards of their exceptional efforts."

In March it was announced that John Lewis and Waitrose staff would receive bonuses worth 17% of their salary as the group reported a 15.8% surge in annual profits.

Each John Lewis Partnership worker, from weekend check-out assistants to the chairman, are said to receive the same percentage of salary as a bonus.

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