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TESCO STAFF RECEIVE RECORD £105 MILLION SHARES PAYOUT

Tesco

2 June 2010

More than 216,000 Tesco staff, from checkout operators to
drivers and managers today learned that they will share a
£105 million bonus pot as the company announced details of
its biggest ever ‘Shares In Success’ scheme.
The shares bonanza is a big thank you for the hard work which
enabled Britain’s biggest private sector employer to report
profits of £3.5 billion for the last year.
75,500 staff who have held shares in the scheme since 2005 also
today became eligible to sell the £39m worth of shares they
were awarded 5 years ago tax free.
This year’s bonus payout for staff comes on top of
£24 million of pay and bonuses for the executive management
who led the Tesco team in a year when Britain’s leading
supermarket created thousands of jobs in the UK and gave more than
£550m back to customers with Double Clubcard points.
This year Tesco also increased its dividend for shareholders for
the 26th consecutive year – a track record of delivering
returns for shareholders unrivalled in the FTSE100.
Non-executive Chairman, David Reid, praised the efforts of the
Tesco team, saying: “We’ve had Tesco’s best ever
year in a really challenging economic climate and that success is
down to the hard work and skill of the whole Tesco team. At home
and abroad, they’ve helped build a great business by doing
what we do best, delivering for customers. I am delighted that once
again all staff are sharing in this success.”
The news landed as the company’s Annual Report was
published, revealing another great year for customers, staff and
shareholders.
The Annual Report also tells how last year Tesco:
• Grew profits by more than 10%
• Created thousands of jobs in the UK including
advertising more than 7000 through Job Centre Plus and creating 328
for the long-term unemployed through Regeneration Partnerships
• Donated £61 million to good causes in the UK
and internationally, up 7% on last year, including £5.6m for
our UK Charity of the Year, the Muscular Dystrophy Campaign;
• Opened 17 new hypermarkets in China, including 3
Lifespace malls;
• Launched new websites for Tesco Clothing and Tesco
Entertainment in the UK, bringing our full range to more customers
than ever before;
• Served more than 2 million Tesco Mobile customers in
more than 100 Tesco phone shops;
• Served 400,000 new Tesco Bank customers.
Corporate Responsibility
Alongside the Annual Report Tesco has also published its latest
Corporate Responsibility Report. This sets out Tesco’s
approach to Corporate Responsibility and the work we do for our
customers, local economies, staff and the environment. Highlights
from last year include:
•        
Announcing our target of becoming a zero carbon business by
2050
•         Hitting our
target of being the first retailer to divert 100% of waste from
landfill
•         Opening the
world’s first zero carbon store in Ramsey,
Cambridgeshire
•         Carbon
footprinting more than 500 products
•         Helping 6.2
million people around the world get active
•         Holding our
first “Trading Fairly” awards, recognising suppliers
who uphold the highest standards for their workers
•         Growing
sales of local produce by more than 20% in the UK, on track to
reach £1bn this year
To mark the launch of the latest Corporate Responsibility Report
watch our interview with Tesco Executive Director for Corporate and
Legal Affairs Lucy Neville-Rolfe at
www.tescoplc.com
ENDS
For further information please contact the Tesco
press office on 01992 644645. Out of hours please telephone 01992
644733 (option two from voicemail).
Note for Editors:
1.      To be eligible for Shares In
Success staff must have been employed by Tesco for at least 1 year
as at 27th February 2010. All eligible staff members who registered
for the free shares will receive the equivalent of 3.6% of their
salary (as of 27 February 2010), up to a maximum of £3,000.
Shares are held in trust for 5 years and then available to sell tax
free.