17,698 Asda Colleagues Share Record £50.9 Million Windfall From Award-winning Sharesave Scheme
- Share ownership scheme has now delivered over £530 million for colleagues since it was first launched in 1982
- Announcement follows last week’s Employee Benefits Award for the “Most effective all-employee share scheme”
Today, 17,698 Asda colleagues are set to pocket a record £50.9 million as a three-year Walmart Sharesave scheme matures.
This year’s payout, the biggest on record for colleagues, will see those saving £50 a month receive more than £2,808, over £1,008 more than their original investment of £1,800. Colleagues who have saved the maximum amount of £250 a month will take home £14,008, over £5,008 more than their original investment of £9,000.
The scheme, which is celebrating its 30th anniversary this year, allows colleagues to set aside £5 to £250 per month for a three year period, at the end of which they receive a tax free bonus and an opportunity to buy Walmart shares at a 20 per cent discounted price. Colleagues are then able to sell the shares at market rate, giving them the opportunity to benefit from an additional dividend on top of their savings.
Since launching back in 1982, Asda colleagues have shared over £530 million through the scheme.
Hayley Tatum, Executive People Director at Asda, said:
“Our in-store and depot colleagues are the heart of our business and work tirelessly, week-in week-out, to serve the 18 million customers that visit us each week.
“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.”
The most popular choices for colleagues to spend their windfalls on remain foreign holidays, weddings and home improvements.
Carol Davinson, who has worked at Asda Dewsbury in Yorkshire for over ten years, will be using her Sharesave money to take her family down to Plymouth to see her son, James, at his passing out parade for the Royal Marines.
Lisa Hughs, from Asda Pwllheli in Wales, has worked at Asda for over four years and will be putting her Sharesave money towards a family holiday to Disneyland Paris.
Lisa said: “I have been saving through Sharesave for the last three years and this maturity couldn’t have come at a better time. I’ve recently split up with my husband after fourteen years and will be using the money to take my three young kids to Disneyland to help take our mind off things – I literally can’t wait!”
The Sharesave maturity comes after Asda was awarded the Employee Benefit Award for the most effective all-employee share scheme strategy’ [Thursday, 31st May]. The award, which was accepted by members of the Asda Sharesave Team, recognised Asda’s commitment to encouraging colleagues to take up the Sharesave scheme and opportunity to save.