Royal Mail launched the ColleagueShare plan in 2007. Allocations of ColleagueShares were made in 2007 and 2008. Dividend payments totalling £1,600 were made at the end of
each of the first three years of the plan. Royal Mail had planned to make a third allocation of shares in 2009. However, following discussions with the CWU, it was instead decided that the business would instead contribute £600 to each colleague in the Letters business, as part of a total award of £1,000 which was linked to the company’s modernisation programme.
Royal Mail will not know the exact final value of the ColleagueShares until the end of the scheme in 2012. However, at the last valuation in October 2011, the shares had no value. This is because the company’s future prospects do not look as good as when the scheme was launched in 2007.
Royal Mail will be communicating to its colleagues in due course about the final valuation of ColleagueShares. However, it is important to remember that shares were free for all employees and that a total of £2,400 in dividends
and other payments have been received by Royal Mail’s colleagues since the scheme’s inception..................I certainly did not get £1600 every year, or the other £2400 , I got the £600 and the £1000 but not the rest, this is on the rm jobseekers webpage. Maybe i'm interpreting it wrong?
