Leeds-based Asda yesterday said the Colleague Share Ownership Plan paid out more than £2m in free shares in US parent company Wal-Mart to staff when it matured at the end of September.

In August the first of the plans to mature paid out more than 100,000 shares worth £3m to 19,000 staff at Asda's 348 stores.

At the end of last month another 15,000 staff shared a pot of 69,000 Wal-Mart shares worth £2m.

David Smith, people director at Asda, said: "At a time when people are strapped for cash, we're giving thousands of colleagues a well-earned bonus.

"Whether it's to help towards the Christmas shopping or pay off the credit card, the proceeds of these shares will really make a difference in the current climate."

Asda's staff share plan was set up in 1995, giving workers free shares in Asda. Staff with options for three or six years can now cash in by selling their shares.

Each option this year was in profit by 8.40 US dollars, meaning on average each employee will receive £120 if they choose to sell.

In total 170,000 Wal-Mart shares have been cashed in by Asda staff this year.

The share plan will see Asda staff receive free shares every year until 2012.