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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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Retail

Tesco staff to split £30 million pot in share scheme

Some 20,000 Tesco PLC (LSE:TSCO) workers are set to split a bonus of £30 million, using funds which have been generated through the supermarket's share scheme.

An employee who has invested the typical £68 per month over the last five years is on track to receive £6,640 for their £4,080 investment, netting a profit of £2,560.

Payouts from Tesco's "save as you earn" scheme are said to have been high due to the grocer's "strong performance" in recent times, having most recently bolstered market share while also seeing growth across most of its divisions.

Most of the staff set to receive the bonus either work on the shop floor or in distribution centres, the UK's largest supermarket explained.

It comes after chief executive Ken Murphy saw some pushback for his £10 million annual pay package, the largest of any UK-listed retailer.

The scheme gives Tesco's 30,000 UK staff the chance to buy shares in the supermarket at a discount.

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