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William Hill staff given £3.5 million in share scheme payouts

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British bookmaking company William Hill is set to share a £3.5 million payout with its staff.

As many as 700 William Hill employees that joined a three-year sharesave plan will receive a payout this year. Their savings will have more than doubled, with the success attributed to the good fortunes of the William Hill share price - grown from £1.83 in July 2009, to a closing price of £3.13 on Monday this week.

The scheme, which is celebrating its 10th anniversary this year, allows employees to save between £5 and £250 per month for either a three or 5 year period, at the end of which they have an opportunity to buy William Hill shares at a 20% discounted price.

Employees are invited to join the scheme every March. Those who invested the maximum £250 per month back in 2009 are now are in line to receive an additional £10,000 - on top of their original investment of £9,000.

David Russell, group HR director of William Hill, said: "I am delighted that so many of our people are able to celebrate the success of the company in this way. This high return is a reflection of the hard work and commitment of William Hill people in driving up the share price. It really is a win - win for employees and shareholders."

William Hill employs nearly 16,000 people, with the bulk fronting the company's 2400-strong retail estate.