Thousands of Tesco workers are set to receive a total pay-out of over £30 million from it's save-as-you-earn share schemes.

Over 20,000 employees, who are working in branches and distribution centres dotted around the country, are set to reap the rewards from a rise in the chain's shares.

In the last 12 months, the supermarket chain's shares have skyrocketed by a fifth.

Thanks to the Tesco's share saving scheme, staff members were able to nab shares for as little as £1.88 or £1.98 - which they could keep or flog - according to Tesco.

One worker who put away £68 every month into the five-year-share scheme is set to walk away with a £2,560 profit thanks to their £4,080 investment, Tesco reports.

For those who invested the maximum amount of £500 every month over three years are set to pocket as much as £10,000.

Others who put away the same amount over five year period could sell their shares for a staggering £20,000 profit.

According to the supermarket chain, 52,000 of it's 300,000 staff members decided to opt in to the employee share scheme.

As such, the save-as-you earn scheme is the biggest in Britain, with £63.5 million having been invested by Tesco employees over the past five years.

Emma Taylor, chief people officer at Tesco, said: 'Colleagues tell us they like this way of saving every month. And when Tesco performs well, they share in a multimillion-pound payout or can keep shares bought at a discounted rate.' 

Shares in Tesco - which also operates branches in the Republic of Ireland Eastern Europis and owns food wholesaler Booker - has become increasingly sought after.

As the corporation's profits and share prices continue to improve, many investors have become keen to nab a part of the Tesco pie. 

In the last year - ending this February - the supermarket's pre-tax profit soared by a staggering 159.5 per cent to £2.29 billion.

The profits came even as the supermarket chain slashed its prices in a bid to challenge Aldi and Lidl's low prices.

The German supermarket chains alleged they had the lowest price tags among grocers in the last 16 months, having cut the cost of around 4,000 items by 12 per cent in the last year. 

Tesco Chief Executive - Ken Murphy - bagged a salary of almost £10 million in the 2023-24 financial year.

The supermarket's shares had also increased by 0.1 per cent at 304.25p