Shoprite sets up BEE trust from which workers will receive dividends
SA’s largest food retailer will place 40-million shares into an employee trust over next decade
SA’s largest food retailer Shoprite will place 40-million shares into an employee trust over the next ten years in a BEE transaction that aims to ensure all permanent workers of two years or more receive a dividend payout as if they owned the shares.
About 126,000 workers will benefit financially from the scheme, but they will not take ownership of the shares which will remain in the trust. ..