Proactive Investors - Run By Investors For Investors

BT to award £50mln in shares to employees to boost morale

“I’m asking our colleagues for their commitment to making BT a national champion and I want to give them ownership in our company and a share in our success,” boss Philip Jansen said
BT
The news comes a week after BT posted its full-year results

BT Group PLC (LON:BT.A) will fork out £50mln worth of shares to its 100,000-strong workforce in a bid to boost staff morale and, in turn, improve customer service.

Philip Jansen, who became chief executive of the FTSE 100-listed telecoms giant in February, said on Thursday the company would award each employee £500 in shares, according to Reuters.

READ: BT keeps dividend unchanged and ups fibre investment targe

“I’m asking our colleagues for their commitment to making BT a national champion and I want to give them ownership in our company and a share in our success,” he said.

“Placing customers at the heart of BT will only be possible by investing in the lifeblood of the business, our people, giving everyone a stake as we build a better BT for the future.”

BT published its first set of full-year results under its new boss last week. 

It kept its annual dividend unchanged, resisting pressure from Jansen to cut the payout in order to provide headroom for increased investment.

That came even as the company raised its targets for rolling out full-fibre broadband.

BT plans to deliver full-fibre to 4mln premises by March 2021, up from its previous aim of 3mln, while it wants to bring it to 15mln premises by mid-2020s, up from 10mln.

For the year to 31 March, BT posted a 2% rise in pre-tax profit to £2.7bn on the back of growth in the consumer business. However, revenue dipped 1% to £23.4bn due to price reductions in the Openreach division and declines in the enterprise businesses.

View full BT.A profile View Profile

BT Group PLC Timeline

Related Articles

Network cables
June 21 2019
The group said it had entered 2019 with a “substantially higher order book” compared to the same period in the prior year

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use