UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
INVESTMENT COMPANY ACT FILE NUMBER 811-8747
CHARTWELL DIVIDEND AND INCOME FUND, INC.
(Exact name of registrant as specified in charter)
1235 Westlakes Drive, Suite 400
Berwyn, PA 19312
(Address of principal executive offices) (Zip code)
BNY Mellon
400 Bellevue Parkway
Wilmington, DE 19809
Attn: Closed-End Department
(Name and address of agent for service)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 1-610-296-1400
DATE OF FISCAL YEAR END: NOVEMBER 30, 2010
DATE OF REPORTING PERIOD: AUGUST 31, 2010
ITEM 1. SCHEDULE OF INVESTMENTS
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------ -------------
COMMON STOCK--73.4%
AEROSPACE & DEFENSE--2.4%
Honeywell International, Inc. .................... 25,000 $ 977,250
United Technologies Corporation .................. 10,000 652,100
-------------
1,629,350
-------------
AIR FREIGHT & LOGISTICS--0.9%
United Parcel Service, Inc., Class B ............. 10,000 638,000
-------------
BANKS--2.3%
JPMorgan Chase & Company ......................... 42,000 1,527,120
-------------
BASIC INDUSTRY--3.5%
Dow Chemical Company ............................. 25,000 609,250
EI du Pont de Nemours & Company .................. 20,000 815,400
PPG Industries, Inc. ............................. 15,000 987,450
-------------
2,412,100
-------------
BEVERAGES--2.2%
Coca-Cola Company ................................ 15,000 838,800
PepsiCo, Inc. .................................... 10,000 641,800
-------------
1,480,600
-------------
COMMERCIAL SERVICES & SUPPLIES--0.7%
Waste Management, Inc. ........................... 15,000 496,350
-------------
COMMUNICATIONS EQUIPMENT--0.6%
QUALCOMM, Inc. ................................... 10,000 383,100
-------------
COMPUTERS & PERIPHERALS--2.3%
Hewlett-Packard Company .......................... 35,000 1,346,800
International Business Machines Corporation ...... 2,000 246,460
-------------
1,593,260
-------------
ELECTRICAL EQUIPMENT--1.4%
Emerson Electric Company ......................... 20,000 933,000
-------------
ENERGY--8.3%
Energy Transfer Partners LP (A) ................. 41,500 1,896,135
Enterprise Products Partners LP (A) .............. 20,000 739,400
Exxon Mobil Corporation .......................... 20,000 1,183,200
Occidental Petroleum Corporation ................. 20,800 1,520,064
Williams, Inc. ................................... 20,000 362,600
-------------
5,701,399
-------------
FINANCIAL--9.2%
ACE Limited ...................................... 20,000 1,069,400
Apollo Investment Corporation .................... 50,000 478,500
Invesco Limited .................................. 30,000 543,000
Lincoln National Corporation ..................... 50,000 1,168,000
MetLife, Inc. .................................... 40,000 1,504,000
NYSE Euronext .................................... 25,000 693,500
|
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------ -------------
COMMON STOCK (CONTINUED)
FINANCIAL (CONTINUED)
Newco Star Asia Financial Limited SPV * +
(B)(C) ........................................ 15,000 $ 40,050
Solar Capital Limited............................. 33,695 661,761
Star Asia Financial Limited * + (B)(C) ........... 46,169 160,207
-------------
6,318,418
-------------
FOOD & STAPLES RETAILING--1.2%
CVS Caremark Corporation ......................... 30,000 810,000
-------------
FOOD, BEVERAGE & TOBACCO--2.2%
Altria Group, Inc. ............................... 30,000 669,600
Kraft Foods, Inc., Class A ....................... 10,000 299,500
Philip Morris International, Inc. ................ 10,000 514,400
-------------
1,483,500
-------------
HEALTHCARE--7.6%
Abbott Laboratories............................... 30,000 1,480,200
Bristol-Myers Squibb Company ..................... 55,000 1,434,400
Merck & Company, Inc. ............................ 20,000 703,200
Pfizer, Inc. ..................................... 100,000 1,593,000
-------------
5,210,800
-------------
INDUSTRIAL CONGLOMERATES--3.8%
3M Company........................................ 20,000 1,571,000
General Electric Company ......................... 70,000 1,013,600
-------------
2,584,600
-------------
IT SERVICES--0.4%
Paychex, Inc. .................................... 10,000 248,900
-------------
LEISURE EQUIPMENT & PRODUCTS--0.5%
Mattel, Inc. ..................................... 15,000 314,850
-------------
MACHINERY--1.9%
Caterpillar, Inc. ................................ 20,000 1,303,200
-------------
MULTILINE RETAIL--1.5%
JC Penney Company, Inc. .......................... 10,000 200,000
Target Corporation ............................... 16,000 818,560
-------------
1,018,560
-------------
PERSONAL PRODUCTS--2.1%
Avon Products, Inc. .............................. 50,000 1,455,000
-------------
REAL ESTATE INVESTMENT TRUSTS--2.8%
Annaly Mortgage Management, Inc. ................. 52,900 919,402
MFA Mortgage Investments, Inc. .................. 138,000 1,017,060
-------------
1,936,462
-------------
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT--2.2%
Intel Corporation ................................ 30,000 531,600
Microchip Technology, Inc. ....................... 35,000 969,150
-------------
1,500,750
-------------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF
SHARES/
PRINCIPAL MARKET
AMOUNT VALUE
------------ -------------
COMMON STOCK (CONTINUED)
SOFTWARE--1.0%
Microsoft Corporation ............................ 30,000 $ 704,400
-------------
SPECIALTY RETAIL--2.3%
Limited Brands, Inc. ............................. 68,300 1,611,880
-------------
TELECOMMUNICATIONS--4.3%
AT&T, Inc. ....................................... 45,000 1,216,350
Frontier Communications Corporation .............. 128,600 994,078
Verizon Communications, Inc. ..................... 25,000 737,750
-------------
2,948,178
-------------
TRANSPORTATION--1.9%
General Maritime Corporation ..................... 105,000 469,350
Nordic American Tanker Shipping .................. 10,000 264,700
Seaspan Corporation .............................. 50,000 561,000
-------------
1,295,050
-------------
UTILITIES--3.2%
Southern Company ................................. 60,000 2,201,400
-------------
WIRELESS TELECOMMUNICATION SERVICES--0.7%
Vodafone Group PLC ............................... 20,000 483,600
-------------
TOTAL COMMON STOCK (COST $50,610,938) ............ 50,223,827
-------------
EXCHANGE TRADED FUND--2.0%
SPDR KBW Bank .................................... 65,000 1,403,350
-------------
TOTAL EXCHANGE TRADED FUND (COST $871,731) ....... 1,403,350
-------------
PREFERRED STOCK--0.0%
FINANCIAL--0.0%
Solar Cayman Limited *+ (B) ...................... 80,000 26,400
-------------
TOTAL PREFERRED STOCK (COST $604,763) ............ 26,400
-------------
CORPORATE NOTES/BONDS--52.8%
AEROSPACE & DEFENSE--0.7%
DynCorp International, Inc. +
10.375%, 07/01/17 ............................. $ 500,000 500,000
-------------
BANKS--0.7%
PHH Corporation +
9.250%, 03/01/16 .............................. 500,000 508,125
-------------
BASIC INDUSTRY--4.4%
Aquilex Holdings LLC +
11.125%, 12/15/16 ............................. 500,000 496,875
Cascades, Inc.
7.750%, 12/15/17 .............................. 500,000 517,500
H&E Equipment Services, Inc.
8.375%, 07/15/16 .............................. 675,000 664,875
United Rentals North America, Inc.
10.875%, 06/15/16 ............................. 270,000 301,050
|
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------ -------------
CORPORATE NOTES/BONDS (CONTINUED)
BASIC INDUSTRY (CONTINUED)
WireCo WorldGroup +
9.500%, 05/15/17 .............................. $ 1,000,000 $ 1,012,500
-------------
2,992,800
-------------
BUILDING MATERIALS--1.2%
Gibraltar Industries, Inc.
8.000%, 12/01/15 .............................. 840,000 808,500
-------------
CABLE TELEVISION--3.5%
Cequel Communications Holdings I LLC and
Cequel Capital Corporation +
8.625%, 11/15/17 .............................. 1,000,000 1,025,000
CSC Holdings, Inc.
7.875%, 02/15/18 .............................. 550,000 594,000
Mediacom Broadband LLC
8.500%, 10/15/15 .............................. 750,000 748,125
-------------
2,367,125
-------------
CONSTRUCTION MATERIALS--1.2%
Headwaters, Inc.
11.375%, 11/01/14 ............................. 750,000 795,000
-------------
CONSUMER FINANCE--1.1%
Credit Acceptance Corporation +
9.125%, 02/01/17 .............................. 740,000 770,525
-------------
CONSUMER STAPLES--0.5%
Dean Foods Company
7.000%, 06/01/16 .............................. 300,000 282,750
Regal Entertainment Group
9.125%, 08/15/18 .............................. 95,000 97,850
-------------
380,600
-------------
ELECTRICAL EQUIPMENT--0.7%
Belden, Inc.
7.000%, 03/15/17 .............................. 500,000 505,000
-------------
ENERGY--4.8%
Concho Resources, Inc.
8.625%, 10/01/17 .............................. 500,000 525,000
Copano Energy LLC
8.125%, 03/01/16 .............................. 435,000 441,525
Crosstex Energy LP
8.875%, 02/15/18 .............................. 275,000 285,313
Linn Energy LLC
9.875%, 07/01/18 .............................. 185,000 203,500
Niska Gas Storage US LLC +
8.875%, 03/15/18 .............................. 500,000 528,750
Plains Exploration & Production Company
7.625%, 06/01/18 .............................. 500,000 509,375
|
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
---------- -----------
CORPORATE NOTES/BONDS (CONTINUED)
ENERGY (CONTINUED)
Range Resources Corporation
7.500%, 05/15/16 .................................. $ 750,000 $ 783,750
-----------
3,277,213
-----------
FINANCIAL--1.1%
Penson Worldwide, Inc. +
12.500%, 05/15/17 ................................. 750,000 744,375
-----------
FIREARMS AND AMMUNITION--0.8%
Colt Defense LLC +
8.750%, 11/15/17 .................................. 750,000 538,125
-----------
GAMING--2.2%
MTR Gaming Group, Inc.
9.000%, 06/01/12 .................................. 700,000 619,500
Seneca Gaming Corporation
7.250%, 05/01/12 .................................. 500,000 488,750
Yonkers Racing Corporation +
11.375%, 07/15/16 ................................. 360,000 388,800
-----------
1,497,050
-----------
HEALTH CARE PROVIDERS & SERVICES--0.3%
Health Net, Inc.
6.375%, 06/01/17 .................................. 250,000 243,125
-----------
HOUSEHOLD PRODUCTS--0.4%
Spectrum Brands Holdings, Inc. +
9.500%, 06/15/18 .................................. 240,000 252,900
-----------
INTERNET SOFTWARE & SERVICES--0.8%
Equinix, Inc.
8.125%, 03/01/18 .................................. 500,000 525,000
-----------
LIFE SCIENCES TOOLS & SERVICES--1.5%
Patheon, Inc. +
8.625%, 04/15/17 .................................. 1,000,000 1,001,250
-----------
MACHINERY--1.2%
Cleaver-Brooks, Inc. +
12.250%, 05/01/16 ................................. 600,000 620,250
Trimas Corporation +
9.750%, 12/15/17 .................................. 170,000 176,375
-----------
796,625
-----------
METALS & MINING--1.5%
Cloud Peak Energy Resources LLC +
8.500%, 12/15/19 .................................. 1,000,000 1,043,750
-----------
MORTGAGE BANKS--0.7%
Provident Funding Associates +
10.250%, 04/15/17 ................................. 500,000 511,250
-----------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
---------- -----------
CORPORATE NOTES/BONDS (CONTINUED)
OIL & FIELD SERVICES--3.8%
Cie Generale de Geophysique
7.750%, 05/15/17 .................................. $ 500,000 $ 498,750
Complete Production Services, Inc.
8.000%, 12/15/16 .................................. 780,000 793,650
Hornbeck Offshore Services, Inc.
8.000%, 09/01/17 .................................. 900,000 850,500
Offshore Group Investments Limited +
11.500%, 08/01/15 ................................. 500,000 501,250
-----------
2,644,150
-----------
OIL REFINING AND MARKETING--0.8%
Coffeyville Resources LLC +
10.875%, 04/01/17 ................................. 200,000 203,500
9.000%, 04/01/15 .................................. 300,000 309,750
-----------
513,250
-----------
PAPER & FOREST PRODUCTS--4.5%
Appleton Papers, Inc. +
10.500%, 06/15/15 ................................. 1,000,000 932,500
P H Glatfelter
7.125%, 05/01/16 .................................. 940,000 950,575
PE Paper Escrow +
12.000%, 08/01/14 ................................. 250,000 282,633
U.S. Corrugated (B)
10.000%, 06/01/13 ................................. 1,000,000 880,000
-----------
3,045,708
-----------
REAL ESTATE--1.1%
Cedar Fair LP +
9.125%, 08/01/18 .................................. 750,000 766,875
-----------
RETAIL--1.5%
Couche-Tard US LP
7.500%, 12/15/13 .................................. 500,000 510,625
Susser Holdings LLC +
8.500%, 05/15/16 .................................. 500,000 515,000
-----------
1,025,625
-----------
SERVICES--1.7%
KAR Holdings, Inc.
8.750%, 05/01/14 .................................. 770,000 795,025
Mobile Mini, Inc.
9.750%, 08/01/14 .................................. 350,000 364,438
-----------
1,159,463
-----------
TELECOMMUNICATIONS--2.9%
Cincinnati Bell, Inc.
8.750%, 03/15/18 .................................. 1,000,000 960,000
|
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL
AMOUNT/
NUMBER OF
SHARES/
WRITTEN MARKET
CONTRACTS VALUE
---------- -----------
CORPORATE NOTES/BONDS (CONTINUED)
TELECOMMUNICATIONS (CONTINUED)
Hughes Network Systems LLC
9.500%, 04/15/14 .................................. $1,000,000 $ 1,037,500
-----------
1,997,500
-----------
TRADING COMPANIES & DISTRIBUTORS--0.7%
Aircastle Limited +
9.750%, 08/01/18 .................................. 500,000 508,750
-----------
TRANSPORTATION--1.7%
American Petroleum Tankers LLC +
10.250%, 05/01/15 ................................. 750,000 763,125
Marquette Transportation Company +
10.875%, 01/15/17 ................................. 400,000 407,000
-----------
1,170,125
-----------
UTILITIES--4.8%
Edison Mission Energy
7.000%, 05/15/17 .................................. 650,000 446,875
Elwood Energy LLC
8.159%, 07/05/26 .................................. 799,396 739,441
Ferrellgas Partners LP
9.125%, 10/01/17 .................................. 100,000 107,500
6.750%, 05/01/14 .................................. 400,000 404,000
North American Energy Alliance LLC +
10.875%, 06/01/16 ................................. 400,000 434,000
Sierra Pacific Resources
8.625%, 03/15/14 .................................. 750,000 775,312
Southern Star Central Corporation
6.750%, 03/01/16 .................................. 350,000 354,375
-----------
3,261,503
-----------
TOTAL CORPORATE NOTES/BONDS (COST $36,420,734) ....... 36,151,287
-----------
CASH EQUIVALENT--0.4%
Wells Fargo Advantage Cash Investment
Money Market Fund, Class I, 0.210% (D) ............ 241,350 241,350
-----------
TOTAL CASH EQUIVALENT (COST $241,350) ................ 241,350
-----------
TOTAL INVESTMENTS - 128.6% (COST $88,749,516) ** ..... $88,046,214
-----------
COVERED CALL OPTIONS WRITTEN--(0.1)%
3M Company, Expires: 09/18/10, Strike Price: $85 ..... (200) (2,400)
Annaly Capital Management, Inc., Expires:
09/18/10, Strike Price: $18 ....................... (300) (2,100)
Bristol-Myers Squibb, Expires: 09/18/10, Strike
Price: $27 ........................................ (500) (8,000)
|
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
WRITTEN MARKET
CONTRACTS VALUE
---------- ------------
COVERED CALL OPTIONS WRITTEN (CONTINUED)
Caterpillar, Inc., Expires: 09/18/10, Strike Price:
$70 ............................................... (200) $ (6,800)
Du Pont, Expires: 09/18/10, Strike Price: $42 ........ (100) (4,700)
Emerson Electric Company, Expires: 09/18/10,
Strike Price: $55 ................................. (200) (1,000)
Hewlett-Packard Company, Expires: 09/18/10,
Strike Price: $43 ................................. (59) (413)
Limited Brands, Inc., Expires: 09/18/10, Strike
Price: $27 ........................................ (200) (2,000)
Mattel, Inc., Expires: 09/18/10, Strike Price:
$23 ............................................... (150) (600)
Microchip Technology, Inc., Expires: 09/18/10,
Strike Price: $30 ................................. (150) (1,500)
S&P 500 Index, Expires: 09/18/10, Strike Price:
$1,120 ............................................ (300) (36,000)
Southern Company, Expires: 09/18/10, Strike
Price: $36 ........................................ (300) (24,000)
------------
TOTAL COVERED CALL OPTIONS WRITTEN
(PREMIUMS RECEIVED $293,570) ...................... (89,513)
------------
OTHER LIABILITIES IN EXCESS OF ASSETS--(28.5)% +++ ... (19,505,336)
------------
NET ASSETS--100.0% ................................... $ 68,451,365
============
|
* NON-INCOME PRODUCING SECURITY.
+ SECURITIES ARE EXEMPT FROM REGISTRATION UNDER RULE 144A OF THE SECURITIES
ACT OF 1933. THESE SECURITIES MAY BE RESOLD IN TRANSACTIONS EXEMPT FROM
REGISTRATION NORMALLY TO QUALIFIED INSTITUTIONS. AT AUGUST 31, 2010, THESE
SECURITIES AMOUNTED TO $15,969,890, OR 23.3% OF NET ASSETS.
(A) SECURITIES CONSIDERED MASTER LIMITED PARTNERSHIP. AT AUGUST 31, 2010, THESE
SECURITIES AMOUNTED TO $2,635,535 OR 3.9% OF NET ASSETS.
(B) SECURITIES FAIR VALUED IN ACCORDANCE WITH THE FAIR VALUE PROCEDURES, AT
AUGUST 31, 2010 THESE SECURITIES AMOUNTED TO $1,106,657 OR 1.6% OF NET
ASSETS.
(C) SECURITY IS ILLIQUID. THE TOTAL VALUE OF ILLIQUID SECURITIES AS OF AUGUST
31, 2010 WAS $200,257 OR 0.3% OF NET ASSETS.
(D) THE RATE REPORTED IS THE 7-DAY EFFECTIVE YIELD AS OF AUGUST 31, 2010.
LLC LIMITED LIABILITY COMPANY
LP LIMITED PARTNERSHIP
PLC PUBLIC LIMITED COMPANY
SPDR STANDARD & POOR'S DEPOSITARY RECEIPT
SPV SPECIAL PURPOSE VEHICLE
** AT AUGUST 31, 2010, THE TAX BASIS COST OF THE FUND'S INVESTMENTS WAS
$88,749,516, AND THE UNREALIZED APPRECIATION AND DEPRECIATION WERE
$6,696,277 AND $(7,399,579), RESPECTIVELY.
+++ AS OF AUGUST 31, 2010, THE FUND HAD $20 MILLION IN BORROWINGS OUTSTANDING
PURSUANT TO A $25 MILLION LINE OF CREDIT WITH A BANK. BORROWINGS UNDER THE
LINE OF CREDIT ARE SECURED BY A PERFECTED SECURITY INTEREST ON ALL OF THE
FUND'S ASSETS. THE LINE OF CREDIT BEARS A VARIABLE INTEREST RATE EQUAL TO
THE 1-MONTH LIBOR MARKET INDEX RATE PLUS 0.90% PER ANNUM AND THERE IS A
0.10% PER ANNUM COMMITMENT FEE ON THE UNUSED BALANCE.
|
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2010
SCHEDULE OF INVESTMENTS (UNAUDITED)
THE FOLLOWING TABLE SETS FORTH INFORMATION ABOUT THE LEVEL OF THE FUND'S
INVESTMENTS IN ACCORDANCE WITH ASC 820 AT AUGUST 31, 2010:
LEVEL 1 LEVEL 2 LEVEL 3 TOTAL
----------- ----------- ---------- -----------
INVESTMENTS IN SECURITIES
COMMON STOCK $50,023,570 $ -- $ 200,257(1) $50,223,827
EXCHANGE TRADED FUND 1,403,350 -- -- 1,403,350
PREFERRED STOCK -- -- 26,400(1) 26,400
CORPORATE NOTES/BONDS -- 35,271,287 880,000(2) 36,151,287
CASH EQUIVALENT -- 241,350 -- 241,350
----------- ----------- ---------- -----------
TOTAL INVESTMENTS IN SECURITIES $51,426,920 $35,512,637 $1,106,657 $88,046,214
=========== =========== ========== ===========
|
LEVEL 1 LEVEL 2 LEVEL 3 TOTAL
----------- ----------- ---------- -----------
LIABILITIES
WRITTEN OPTIONS $ (89,513) $ -- $ -- $ (89,513)
----------- ----------- ---------- -----------
TOTAL LIABILITIES $ (89,513) $ -- $ -- $ (89,513)
=========== =========== ========== ===========
|
(1) CLASSIFIED AS FINANCIAL.
(2) CLASSIFIED AS PAPER & FOREST PRODUCTS
THERE HAVE BEEN NO SIGNIFICANT TRANSFERS BETWEEN THE LEVELS.
THE FOLLOWING IS A RECONCILIATION OF THE INVESTMENTS IN WHICH SIGNIFICANT
UNOBSERVABLE INPUTS (LEVEL 3) WERE USED IN DETERMINING VALUE:
COMMON CORPORATE PREFERRED
STOCK NOTES/BONDS STOCK TOTAL
-------- ----------- --------- ----------
BEGINNING BALANCE AS OF 05/31/10 $146,475 $900,000 $26,400 $1,072,875
REALIZED GAIN (LOSS) -- -- -- --
CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) 53,782 (20,000) -- 33,782
NET PURCHASES -- -- -- --
NET SALES -- -- -- --
NET TRANSFERS INTO LEVEL 3 -- -- -- --
NET TRANSFERS OUT OF LEVEL 3 -- -- -- --
-------- -------- ------- ----------
ENDING BALANCE AS OF 08/31/10 $200,257 $880,000 $26,400 $1,106,657
======== ======== ======= ==========
|
SUBSEQUENT EVENT
IN ACCORDANCE WITH THE PROVISIONS SET FORTH IN FASB STATEMENT OF FINANCIAL
ACCOUNTING STANDARDS ASC 855 "SUBSEQUENT EVENTS," MANAGEMENT HAS DETERMINED THAT
NO MATERIAL EVENTS OR TRANSACTIONS OCCURRED SUBSEQUENT TO AUGUST 31, 2010, THAT
WOULD REQUIRE ADDITIONAL DISCLOSURE IN THE FUND'S SCHEDULE OF INVESTMENTS.
FOR INFORMATION ON THE FUND'S POLICY REGARDING VALUATION OF INVESTMENTS, FAIR
VALUE HIERARCHY AND OTHER SIGNIFICANT ACCOUNTING POLICIES, PLEASE REFER TO NOTE
1 OF THE FUND'S MOST RECENT SEMI-ANNUAL OR ANNUAL FINANCIAL STATEMENTS.
ITEM 2. CONTROLS AND PROCEDURES
(a) The registrant's principal executive officer and principal financial officer
have concluded that the registrant's disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended,
(the "1940 Act")) are effective as of a date within 90 days of the filing of
this report that includes the disclosure required by this paragraph, based on
their evaluation of these controls and procedures, required by Rule 30a-3(b)
under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934, as amended.
(b) There were no changes in the registrant's internal control over financial
reporting that occurred during the registrant's last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the
registrant's internal control over financial reporting.
ITEM 3. EXHIBITS.
(a) A separate certification for the principal executive officer and the
principal financial officer of the registrant as required by Rule 30a-2(a) under
the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), are filed
herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Chartwell Dividend and Income Fund, Inc.
By (Signature and Title)* /s/ Winthrop S. Jessup
----------------------------------------
Winthrop S. Jessup, President
(Principal Executive Officer)
|
Date October 20, 2010
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ Winthrop S. Jessup
----------------------------------------
Winthrop S. Jessup, President
(Principal Executive Officer)
|
Date October 20, 2010
By (Signature and Title)* /s/ G. Gregory Hagar
----------------------------------------
G. Gregory Hagar, Vice President and CFO
(Principal Financial Officer)
|
Date October 20, 2010
* Print the name and title of each signing officer under his or her
signature.
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