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BT staff set for Pounds 1.1bn shares windfall [Newcastle Journal (England)]
[August 02, 2014]

BT staff set for Pounds 1.1bn shares windfall [Newcastle Journal (England)]


(Newcastle Journal (England) Via Acquire Media NewsEdge) ALMOST 23,000 BT staff are set to cash in on shares worth Pounds 1.1bn after a five-year share ownership scheme paid out an average of nearly Pounds 42,000 each.

The telecoms giant said the scheme, which began in 2009, was "one of the UK's largest broad-based employee share plan maturities ever".

Staff who joined the plan saved between Pounds 5 and Pounds 225 every month until this month, meaning they can now buy BT shares at 61p - a 14p discount to their level five years ago when the firm faced tough times.



When the FTSE 100 closed on Wednesday night, BT shares were worth 388.5p, an enormous payout that will in the main go to engineers and call centre workers. Around 7,000 workers saved the maximum Pounds 225 a month, which means they are in line for a payout of Pounds 89,705.

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