##firstname##

We have just initiated the 2Q23 dividend payment via ACH; you should see the payment in your bank account in the next day or two. We are pleased to report our total gross rebate for the 2nd quarter of 2023 was $3,258,369.07.

If you have not yet signed up to receive your rebate via ACH transfer and would like to, please contact Mary Haupt for a sign-up form.

During the first three quarters, we usually pay out 90% of gross rebates, withholding 10% to cover operating expenses. For 2Q23, we will be withholding 15% to ensure the proper cash flow as we head into the back half of the year. This is due to lower-than-expected rebates in Q1, while our expenses were at or below budget over the period. Starting in Q2, we are seeing our rebate revenue get back on track and are expecting the year to play out as budgeted. With the 4Q payout, we intend to “true up” and pay out the balance of the year’s gross rebates as we have done in the past.

We will no longer be sending out member packets; your Dividend Summary page, Purchase Report and the newsletter can be accessed on the new NEMEON website www.nemeon.com. Please contact any team member if you would like any help accessing the website.

As we continue to look for ways to support our preferred vendors, I encourage you to look at all product categories where you are not presently supporting a NEMEON Preferred Vendor. These are areas that hold opportunities to increase your rebates and at the same time help the organization to meet its strategic goals. Please look at the vendors that you do business with that are outside of NEMEON to see if there is a preferred vendor who can fill the same need for you.  

With your help, we will strengthen our position as the Premier Roofing and Siding Cooperative in the United States and Canada.

Dave O’Donnell
President & CEO
Nemeon, Inc.
www.nemeon.com
843-901-0467