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Asda staff to share £51 million share scheme payout

Almost 18,000 employees at the Walmart-owned Asda supermarket chain are to share a record windfall of £50.9 million after a share scheme matured.

GENERAL MERCHANDISE

Asda staff to share £51 million share scheme payout

Almost 18,000 employees at the Walmart-owned Asda supermarket chain are to share a record windfall of £50.9 million after a share scheme matured.

Staff who saved £50 a month through the scheme will receive £2,808, a 56% increase on their investment, while those saving the maximum £250 a month will receive £14,008, £5,000 more than their original £9,000 investment.

The share save scheme has paid out more than £530 million since it launched in 1982.

Asda’s executive people director Hayley Tatum said: "Our in-store and depot colleagues are the heart of our business and work tirelessly, week-in week-out.

"Giving our colleagues the chance to have a stake in the company is just one of our ways of saying thank you and a great way to ensure that they share in the success that their hard work has achieved."

Asda staff can set aside between £5 and £250 from their monthly pay through the Walmart Sharesave scheme. After three years employees are given a tax-free bonus and are offered the chance to buy Walmart shares at a 20% discount. These can then be sold at the current market rate.

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