NASCO-OP announces 2022 dividend

The New Philadelphia, Ohio-based National Association Supply Cooperative (NASCO-OP) has declared a 2.2 percent patronage dividend for 2022, according to the co-op’s manager Bob Bedard.

The dividend, which functions as a rebate, is calculated on the purchases a member company or associate made at the cooperative. According to NASCO-OP, the dividend “reduces the purchase price of supplies and equipment.”

“For the second consecutive year NASCO-OP scored exceptional sales and phenomenal growth,” states the co-op. “Over the last two years alone, NASCO-OP has returned almost $1 million dollars in dividends to our members and associates,” adds NASCO-OP.

Last year’s 2.2 percent rate represents a slight dip from the 2.5 percent dividend tied to 2021 purchases. NASCO-OP says that while sales in 2022 increased above 2021’s totals, “supply chain disruption” created negative impacts.

 “Many of our suppliers found either labor or critical components in short supply, which in turn significantly delayed their shipments,” says Bedard. “In fact, at one point magnets were being quoted at 12 months out.” Adds Bedard, “Despite these setbacks, our revenues were the fourth best in the cooperative’s history.”

Nonetheless, the 2.2 percent figure compares favorably with dividend levels such as 0.5 percent in 2015 or 1.0 percent in 2019.

Looking ahead, the co-op says its ability to restore its presence at in-person events could lead to a busier 2023. NASCO-OP says staff members participated in several Institute of Scrap Recycling Industries (ISRI) events in 2022, plus the inaugural Scrap Expo. “We were glad to get our team back out on the road, making courtesy visits to many of our members,” says Bedard.

NASCO-OP services and purchasing options are available at no additional cost to members of ISRI, the National Demolition Association (NDA), the Canadian Association of Recycling Industries (CARI) and the Automotive Recyclers Association (ARA).