Thousands of Tesco employees are to share £106m in the latest round of payouts from the retailer’s share option scheme.
Tesco now accounts for £1 in every £8 spent in UK shops, so staff who invested in the retailer’s Save As Your Earn (SAYE) plan in 1999 have made a profit of up to £3,929 each. There are two schemes running and some Tesco staff will gain about £7,000.
More than 74% of staff have chosen to keep their shares, betting on an even higher price to come. More than 100,000 of the Tesco’s 237,000 employees have a stake in the business.
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Tesco chief executive, Terry Leahy, said: “Being a shareholder in Tesco is important to so many of our staff because it gives them a personal stake in the company’s success. SAYE is a safe and convenient way for staff to save and have the option to buy shares.
“It is also one of the ways we aim to reward our people for their loyalty and continued efforts for customers, as well as being a thank you for all their hard work throughout the year.”
