Tesco staff to cash in with share plan

Thousands of Tesco employees who invested in the company’s saving scheme have each netted a share of £144m.

After 12 months’ employment, the supermarket allows staff to invest between £5 and £50 a month in its Save As You Earn share scheme. Those who saved the maximum for the five-year scheme gained a 100 per cent return on their investment, each earning over £6,000. Tesco said this reflected the resilience of the company’s share price through the recession.

Retail director David Potts added: “Today’s returns will be a very welcome boost to income and are well deserved for the continued dedication and hard work of our colleagues.”

The 55,000 savers now have the option to reinvest in Tesco shares at a discounted option price.