Asda colleagues share record £61.7 million windfall for award-winning Sharesave scheme
- Share ownership scheme has now delivered over £650 million for colleagues since it was first launched in 1982
- 19,040 colleagues will benefit from this year’s maturity
Today, 19,040 Asda colleagues are set to pocket a record £61.7 million as a three-year Walmart Sharesave scheme matures.
Asda’s Sharesave scheme allows colleagues to set aside between £50 and £250 of their salary per month for a three-year period. At the end of the three years they receive the opportunity to buy Walmart shares at a 20 per cent discounted price on the market value in 2010; they also receive a small tax-free bonus. Colleagues are then able to sell the shares at today’s market rate, offering the opportunity to cash-in on a profitable return.
For instance, a colleague saving £50 a month over the three-year period will receive more than £3,000, whilst someone who saved the maximum amount of £250 a month will take home over £15,500.
Since launching back in 1982, Asda colleagues have shared over £650 million through the scheme.
Hayley Tatum, Executive People Director at Asda, said:
“This record bonus pot reflects the success we’ve seen this year, all of which is down to the hard work and commitment of our colleagues across the business.
“Giving our colleagues the chance to save each month, risk free is just one of our ways of saying thank you and a great way to ensure that they reap the rewards of their exceptional efforts.”
The most popular choices for colleagues to spend their windfalls on remain foreign holidays, weddings and home improvements.
Teresa Halliday, from Asda Crawley, has worked at Asda for over 8 years and will be putting her Sharesave money towards her wedding after waiting 26 years to marry her fiancé.
Teresa said: “After 26 years of waiting I’ve finally been able to make the leap and start planning for the big day. I’ve been saving through Sharesave for the last three years and this maturity has come at a perfect time for me. I’ve always dreamed of having a perfect wedding and thanks to Asda’s Sharesave scheme I’m able to turn that dream into a reality.”
Susan Newman, who has worked at Asda Western Super Mare for 14 years, will be using her Sharesave money towards celebrating her 40th wedding anniversary, which was unfortunately cut short due to a family crisis last year.
The Sharesave maturity comes after Asda was accredited as a finalist for the 2013 Employee Benefit Award for the ‘most effective all-employee share scheme strategy’. The award, which Asda previously won in 2012, recognised Asda’s commitment to encouraging colleagues to take up the Sharesave scheme and opportunity to save.