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Asda employees to receive record share payout

Asda employees are to receive record payouts as part of parent company Wal-Mart's Sharesave scheme.

Almost 20,000 staff will receive an average of £3,250 from a £61.7 million pot.

The scheme allows colleagues to set aside between £50 and £250 of their salary per month on a three-year period.

At the end of the three years they receive the opportunity to buy Walmart shares at a 20% discounted price of the 2010 market value - The deal includes a small tax-free bonus.

Colleagues are then able to sell the shares at today's market rate.

"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," said Asda executive people director Hayley Tatum.

"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."

Since launching back in 1982, Asda colleagues have shared more than £650 million through the scheme.