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)
PNC Bank, National Association
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, 2009
DATE OF REPORTING PERIOD: FEBRUARY 28, 2009
ITEM 1. SCHEDULE OF INVESTMENTS
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------- -------------
COMMON STOCK - 45.5%
AEROSPACE & DEFENSE - 0.7%
Honeywell International, Inc. ................. 15,000 $ 402,450
-------------
BASIC INDUSTRY - 1.7%
PPG Industries, Inc. .......................... 30,000 931,800
-------------
BEVERAGES - 0.9%
PepsiCo, Inc. ................................. 10,000 481,400
-------------
COMPUTERS & PERIPHERALS - 0.8%
International Business Machines Corporation ... 5,000 460,150
-------------
CONSUMER STAPLES - 0.2%
B&G Foods, Inc., Class A ...................... 30,000 114,000
-------------
ENERGY - 15.0%
Copano Energy LLC (A) ......................... 25,000 355,500
Energy Transfer Partners LP (A) ............... 90,000 3,258,900
Exxon Mobil Corporation ....................... 40,000 2,716,000
General Maritime Corporation .................. 100,500 924,600
Occidental Petroleum Corporation .............. 20,000 1,037,400
-------------
8,292,400
-------------
FINANCIAL - 3.2%
ACE Limited ................................... 20,000 730,200
MCG Capital Corporation ....................... 100,000 76,000
MetLife, Inc. ................................. 20,000 369,200
Star Asia Financial Limited * + (C) (D) ....... 15,000 594,000
-------------
1,769,400
-------------
HEALTHCARE - 6.0%
Abbott Laboratories ........................... 20,000 946,800
Pfizer, Inc. .................................. 160,000 1,969,600
Wyeth ......................................... 10,000 408,200
-------------
3,324,600
-------------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------- -------------
COMMON STOCK (CONTINUED)
INDUSTRIAL CONGLOMERATES - 0.8%
3M Company .................................... 10,000 $ 454,600
-------------
IT SERVICES - 0.6%
Paychex, Inc. ................................. 15,000 330,900
-------------
REAL ESTATE INVESTMENT TRUSTS - 5.4%
Annaly Capital Management, Inc. ............... 120,000 1,668,000
Hatteras Financial Corporation ................ 30,000 715,500
MFA Mortgage Investments, Inc. ................ 106,700 612,458
-------------
2,995,958
-------------
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.9%
Microchip Technology, Inc. .................... 25,000 469,250
-------------
TELECOMMUNICATIONS - 9.3%
AT&T, Inc. .................................... 130,000 3,090,100
Frontier Communications Corporation ........... 125,000 900,000
Verizon Communications, Inc. .................. 40,000 1,141,200
-------------
5,131,300
-------------
TOTAL COMMON STOCK (COST $39,833,629) 25,158,208
-------------
EXCHANGE TRADED FUNDS - 1.1%
SPDR KBW Bank ................................. 50,000 609,000
-------------
TOTAL EXCHANGE TRADED FUNDS (COST $600,225) ... 609,000
-------------
PREFERRED TERM SECURITIES + (C) (D) - 0.4%
Alesco Preferred Funding IX, 06/23/36 ......... 10,000 50,000
Alesco Preferred Funding X, 09/23/36 .......... 10,000 50,000
Alesco Preferred Funding XI, 12/23/36 ......... 5,000 25,000
Alesco Preferred Funding XII, 07/15/37 ........ 5,000 25,000
Alesco Preferred Funding XIII, 09/23/37 ....... 2,500 12,500
Alesco Preferred Funding XIV, 03/15/37 ........ 5,000 25,000
Alesco Preferred Funding XV, 12/23/37 ......... 2,500 7,500
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------- -------------
PREFERRED TERM SECURITIES (CONTINUED)
Alesco Preferred Funding XVI, 03/23/38 ........ 5,000 $ 25,000
I-Preferred Term Securities IV, 06/24/34 ...... 10,000 100
Preferred Term Securities IV, 12/23/31 ........ 20,000 200
Preferred Term Securities XIV, 06/24/34 ....... 20,000 200
Preferred Term Securities XVIII, 06/23/35 ..... 10,000 100
Preferred Term Securities XIX, 12/22/35 ....... 10,000 100
Preferred Term Securities XX, 03/22/38 ........ 10,000 100
Preferred Term Securities XXIII, 12/22/36 ..... 5,000 50
Preferred Term Securities XXIV, 03/22/37 ...... 5,000 50
Taberna Preferred Funding II Limited,
06/30/35 ................................... 5,000 5,000
-------------
TOTAL PREFERRED TERM SECURITIES
(COST $10,674,176) ......................... 225,900
-------------
PREFERRED STOCK - 1.8%
FINANCIAL - 1.5%
Solar Cayman Limited * + (C) (D) .............. 80,000 841,600
-------------
REAL ESTATE INVESTMENT TRUSTS - 0.3%
FelCor Lodging Trust, Inc. .................... 40,000 156,000
-------------
TOTAL PREFERRED STOCK (COST $2,200,000) ....... 997,600
-------------
|
PRINCIPAL
AMOUNT
-------------
CORPORATE NOTES/BONDS - 59.3%
AUTOMOTIVE - 0.8%
Lear Corporation, Series B
8.750%, 12/01/16 ........................... $ 885,000 154,875
TRW Automotive, Inc. +
7.250%, 03/15/17 ........................... 1,000,000 285,000
-------------
439,875
-------------
BASIC INDUSTRY - 3.4%
Blount, Inc.
8.875%, 08/01/12 ........................... 750,000 757,500
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------- -------------
CORPORATE NOTES/BONDS (CONTINUED)
BASIC INDUSTRY (CONTINUED)
H&E Equipment Services, Inc.
8.375%, 07/15/16 ........................... $ 1,175,000 $ 746,125
Trimas Corporation
9.875%, 06/15/12 ........................... 772,000 374,420
-------------
1,878,045
-------------
BROADCASTING & CABLE - 0.7%
Allbritton Communications Company
7.750%, 12/15/12 ........................... 815,000 370,825
-------------
BUILDING MATERIALS - 0.8%
Gibraltar Industries, Inc.
8.000%, 12/01/15 ........................... 840,000 441,000
-------------
CABLE TELEVISION - 5.8%
CSC Holdings, Inc.
7.875%, 02/15/18 ........................... 750,000 678,750
DIRECTV Holdings LLC
6.375%, 06/15/15 ........................... 750,000 684,375
Echostar DBS Corporation
6.625%, 10/01/14 ........................... 500,000 451,250
Mediacom Broadband LLC
8.500%, 10/15/15 ........................... 750,000 639,375
Quebecor Media, Inc.
7.750%, 03/15/16 ........................... 895,000 733,900
-------------
3,187,650
-------------
CAPITAL GOODS - 0.5%
Allied Waste North America, Inc.
7.875%, 04/15/13 ........................... 250,000 249,592
-------------
CHEMICALS - 0.7%
Nova Chemicals Corporation (B)
5.720%, 11/15/13 ........................... 535,000 361,125
-------------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------- -------------
CORPORATE NOTES/BONDS (CONTINUED)
COMPUTERS-MEMORY DEVICES - 0.8%
Seagate Technology HDD Holdings
6.800%, 10/01/16 ........................... $ 750,000 $ 416,250
-------------
CONSUMER PRODUCTS - 0.6%
Hanesbrands, Inc. (B)
5.697%, 12/15/14 ........................... 525,000 349,125
-------------
ELECTRONIC EQUIPMENT & INSTRUMENTS - 1.4%
Flextronics International Limited
6.500%, 05/15/13 ........................... 885,000 785,438
-------------
ENERGY - 8.4%
Cie Generale de Geophysique
7.750%, 05/15/17 ........................... 500,000 390,000
Cimarex Energy Company
7.125%, 05/01/17 ........................... 650,000 536,250
Complete Production Services, Inc.
8.000%, 12/15/16 ........................... 780,000 531,375
Copano Energy LLC
8.125%, 03/01/16 ........................... 935,000 797,087
Newfield Exploration Company
6.625%, 04/15/16 ........................... 750,000 656,250
Plains Exploration & Production Company
7.625%, 06/01/18 ........................... 500,000 437,500
Range Resources Corporation
7.500%, 05/15/16 ........................... 750,000 697,500
Tennessee Gas Pipeline Company +
8.000%, 02/01/16 ........................... 600,000 592,500
-------------
4,638,462
-------------
FINANCIAL - 0.8%
Arch Western Finance LLC
6.750%, 07/01/13 ........................... 500,000 470,000
-------------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------- -------------
CORPORATE NOTES/BONDS (CONTINUED)
GAMING - 2.9%
Boyd Gaming Corporation
7.125%, 02/01/16 ........................... $ 260,000 $ 133,900
MTR Gaming Group, Inc., Series B
9.750%, 04/01/10 ........................... 520,000 387,400
MTR Gaming Group, Inc.
9.000%, 06/01/12 ........................... 700,000 332,500
Seneca Gaming Corporation
7.250%, 05/01/12 ........................... 1,000,000 745,000
-------------
1,598,800
-------------
HEALTH CARE PROVIDERS & SERVICES - 0.9%
DaVita, Inc.
6.625%, 03/15/13 .......................... 500,000 490,000
-------------
HEALTHCARE - 3.7%
Bio-Rad Laboratories, Inc.
7.500%, 08/15/13 ........................... 1,000,000 955,000
HCA Inc.
9.125%, 11/15/14 ........................... 500,000 470,000
Omnicare, Inc.
6.875%, 12/15/15 ........................... 650,000 607,750
-------------
2,032,750
-------------
HOTELS, RESTAURANTS & LEISURE - 1.2%
MGM Mirage
6.750%, 09/01/12 ........................... 500,000 212,500
Scientific Games Corporation
6.250%, 12/15/12 ........................... 500,000 453,750
-------------
666,250
-------------
METALS & MINING - 2.7%
Freeport-McMoRan Copper & Gold Inc.
8.375%, 04/01/17 ........................... 1,000,000 863,697
Steel Dynamics, Inc.
7.375%, 11/01/12 ........................... 750,000 652,500
-------------
1,516,197
-------------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------- -------------
CORPORATE NOTES/BONDS (CONTINUED)
PAPER & FOREST PRODUCTS - 2.5%
P H Glatfelter
7.125%, 05/01/16 ........................... $ 1,190,000 $ 1,005,550
U.S. Corrugated (D)
10.000%, 06/01/13 .......................... 1,000,000 400,000
-------------
1,405,550
-------------
REAL ESTATE - 0.3%
Host Hotels & Resorts LP (A)
7.000%, 08/15/12 ........................... 200,000 167,000
-------------
REAL ESTATE MANAGEMENT - 2.9%
Corrections Corp of America
7.500%, 05/01/11 ........................... 830,000 834,150
Geo Group, Inc.
8.250%, 07/15/13 ........................... 840,000 760,200
-------------
1,594,350
-------------
RETAIL - 4.2%
Autonation, Inc.
7.000%, 04/15/14 ........................... 500,000 432,500
Brown Shoe Company, Inc.
8.750%, 05/01/12 ........................... 1,200,000 996,000
Couche-Tard US LP
7.500%, 12/15/13 ........................... 500,000 475,000
Sonic Automotive, Inc., Series B
8.625%, 08/15/13 ........................... 1,390,000 437,850
-------------
2,341,350
-------------
SERVICES - 1.9%
ARAMARK Corporation
8.500%, 02/01/15 ........................... 500,000 457,500
KAR Holdings, Inc.
8.750%, 05/01/14 ........................... 1,270,000 571,500
-------------
1,029,000
-------------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------- -------------
CORPORATE NOTES/BONDS (CONTINUED)
TELECOMMUNICATIONS - 4.4%
Cincinnati Bell, Inc.
8.375%, 01/15/14 ........................... $ 750,000 $ 690,000
Hughes Network Systems LLC
9.500%, 04/15/14 ........................... 855,000 752,400
L-3 Communications Corporation
6.125%, 07/15/13 ........................... 250,000 241,250
Windstream Corporation
8.125%, 08/01/13 ........................... 750,000 731,250
-------------
2,414,900
-------------
TRANSPORTATION - 1.3%
Stena AB
7.500%, 11/01/13 ........................... 950,000 717,250
-------------
UTILITIES - 5.7%
Amerigas Partners LP
7.250%, 05/20/15 ........................... 750,000 705,000
Edison Mission Energy
7.000%, 05/15/17 ........................... 650,000 552,500
Elwood Energy LLC
8.159%, 07/05/26 ........................... 892,840 722,830
Ipalco Enterprises, Inc. +
7.250%, 04/01/16 ........................... 500,000 462,500
Sierra Pacific Resources
8.625%, 03/15/14 ........................... 750,000 726,899
-------------
3,169,729
-------------
TOTAL CORPORATE NOTES/BONDS
(COST $42,756,661) ......................... 32,730,513
-------------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------- -------------
CASH EQUIVALENT - 8.0%
SEI Daily Income Trust, Prime Obligation Fund,
Cl A shares, 0.331% (E) .................... 4,403,956 $ 4,403,956
-------------
TOTAL CASH EQUIVALENT (COST $4,403,956) ....... 4,403,956
-------------
TOTAL INVESTMENTS - 116.1%
(COST $100,468,647) ** ..................... 64,125,177
-------------
|
COVERED CALL OPTIONS WRITTEN - (0.5) %
WRITTEN
CONTRACTS
-------------
3M Company, Expires: 03/21/09, Strike
Price: $50 ................................. (100) (3,500)
Abbott Laboratories, Expires: 03/21/09, Strike
Price: $55 ................................. (100) (700)
Abbott Laboratories, Expires: 03/21/09,
Strike Price: $57.50 ....................... (100) (500)
ACE Limited, Expires: 03/21/09, Strike
Price: $45 ................................. (200) (4,000)
Annaly Capital Management, Inc., Expires:
03/21/09, Strike Price: $16 ................ (1,200) (12,000)
AT&T, Inc., Expires: 03/21/09, Strike
Price: $26 ................................. (1,300) (27,300)
Exxon Mobil Corporation, Expires: 03/21/09,
Strike Price: $80 .......................... (400) (4,800)
Honeywell International, Inc., Expires:
03/21/09, Strike Price: $30 ................ (150) (4,200)
International Business Machines Corporation,
Expires: 03/21/09, Strike Price: $90 ....... (50) (23,500)
MetLife, Inc., Expires: 03/21/09, Strike
Price: $20 ................................. (200) (38,000)
Occidental Petroleum Corporation, Expires:
03/21/09, Strike Price: $55 ................ (200) (27,000)
Paychex, Inc., Expires: 03/21/09, Strike
Price: $25 ................................. (150) (2,250)
PepsiCo, Inc., Expires: 03/21/09, Strike
Price: $55 ................................. (100) (500)
Pfizer, Inc., Expires: 03/21/09, Strike
Price: $15 ................................. (1,600) (4,800)
PPG Industries, Inc., Expires: 03/21/09,
Strike Price: $35 .......................... (300) (9,000)
SPDR KBW Bank ETF, Expires: 03/21/09, Strike
Price: $12 ................................. (500) (72,000)
Verizon Communications, Inc., Expires:
03/21/09, Strike Price: $30 ................ (400) (19,200)
-------------
TOTAL COVERED CALL OPTIONS WRITTEN
(PREMIUMS RECEIVED $431,007) ............... (253,250)
-------------
|
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
OTHER LIABILITIES IN EXCESS OF
ASSETS - (15.6)% ........................... (8,636,725)
-------------
NET ASSETS - 100.0% ........................... $ 55,235,202
-------------
|
* 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 FEBRUARY 28, 2009,
THESE SECURITIES AMOUNTED TO $3,001,500 OR 5.4% OF NET ASSETS.
(A) SECURITIES CONSIDERED MASTER LIMITED PARTNERSHIP. AT FEBRUARY 28, 2009,
THESE SECURITIES AMOUNTED TO $3,781,400 OR 6.8% OF NET ASSETS.
(B) VARIABLE RATE SECURITY - THE RATE REPORTED ON THE SCHEDULE OF INVESTMENTS
IS THE RATE IN EFFECT AT FEBRUARY 28, 2009.
(C) SECURITIES ARE CONSIDERED ILLIQUID. THE TOTAL VALUE OF SUCH SECURITIES AS
OF FEBRUARY 28, 2009 WAS $1,661,500 OR 3.0% OF NET ASSETS.
(D) SECURITIES FAIR VALUED IN ACCORDANCE WITH FAIR VALUE PROCEDURES. AT
FEBRUARY 28, 2009, THESE SECURITIES AMOUNTED TO $2,061,500 OR 3.7% OF NET
ASSETS.
(E) THE RATE REPORTED IS THE 7-DAY EFFECTIVE YIELD AS OF FEBRUARY 28, 2009.
CL CLASS
LLC LIMITED LIABILITY COMPANY
LP LIMITED PARTNERSHIP
|
SPDR STANDARD & POOR'S DEPOSITARY RECEIPT
** AT FEBRUARY 28, 2009, THE TAX BASIS COST OF THE FUND'S INVESTMENTS WAS
$100,468,647, AND THE UNREALIZED APPRECIATION AND DEPRECIATION WERE $177,276 AND
$(36,520,746), RESPECTIVELY.
AS OF FEBRUARY 28, 2009, $10,000,000 OF COMMERCIAL PAPER WAS OUTSTANDING WITH AN
AMORTIZED COST OF $9,918,250. THE AVERAGE DISCOUNT RATE OF COMMERCIAL PAPER
OUTSTANDING AT FEBRUARY 28, 2009, WAS 3.27%. THE AVERAGE DAILY BALANCE OF
COMMERCIAL PAPER OUTSTANDING FOR THE QUARTER ENDED FEBRUARY 28, 2009 WAS
$9,958,809 AT A WEIGHTED AVERAGE DISCOUNT RATE OF 3.46%. THE MAXIMUM FACE AMOUNT
OF COMMERCIAL PAPER OUTSTANDING AT ANYTIME DURING THE QUARTER ENDED FEBRUARY 28,
2009, WAS $10,000,000. IN CONJUNCTION WITH THE ISSUANCE OF THE COMMERCIAL PAPER,
THE FUND HAS ENTERED ONTO A LINE OF CREDIT ARRANGEMENT WITH A BANK FOR
$15,000,000. INTEREST ON BORROWING IS BASED ON MARKET RATES IN EFFECT AT THE
TIME OF BORROWING. EFFECTIVE FEBRUARY 28, 2009, THE BORROWINGS UNDER THE LINE OF
CREDIT ARE SECURED BY A PERFECTED SECURITY INTEREST ON ALL OF THE FUND'S ASSETS.
THE COMMITMENT FEE IS COMPUTED AT THE RATE OF 0.10% PER ANNUM ON THE UNUSED
BALANCE. THERE WERE NO BORROWINGS UNDER THIS ARRANGEMENT DURING THE QUARTER
ENDED FEBRUARY 28, 2009.
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
Financial Accounting Standards Board (FASB) STATEMENT OF FINANCIAL ACCOUNTING
STANDARDS (SFAS) No. 157 is effective for the Fund's financial statements issued
after December 1, 2007. SFAS No. 157 defines fair value, establishes a fair
value hierarchy and specifies that a valuation technique used to measure fair
value shall maximize the use of observable inputs and minimize the use of
unobservable inputs. The objective of a fair value measurement is to determine
the price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction between market participants at the
measurement date (an exit price). Accordingly, the fair value hierarchy gives
the highest priority to quoted prices (unadjusted) in active markets for
identical assets or liabilities (Level 1) and the lowest priority to
unobservable inputs (Level 3). The three levels of the fair value hierarchy
under SFAS No. 157 are described below:
- Level 1 -- Unadjusted quoted prices in active markets for identical,
unrestricted assets or liabilities that the Fund has the ability to access
at the measurement date;
- Level 2 -- Quoted prices which are not active, quoted prices for
similar assets or liabilities in active markets or inputs other than quoted
prices that are observable (either directly or indirectly) for
substantially the full term of the asset or liability; and
- Level 3 -- Significant unobservable prices or inputs (including the
Fund's own assumptions in determining the fair value of investments) where
there is little or no market activity for the asset or liability at the
measurement date.
As required by SFAS No.157, investments are classified within the level of the
lowest significant input considered in determining fair value. Investments
classified within Level 3 whose fair value measurement considers several inputs
may include Level 1 or Level 2 inputs as components of the overall fair value
measurement. The following table sets forth information about the level within
the fair value hierarchy at which the Fund's investments are measured at
February 28, 2009:
VALUATION INVESTMENTS OTHER FINANCIAL
INPUTS IN SECURITIES INSTRUMENTS*
--------- ------------- ---------------
LEVEL 1 $29,733,160 $(253,250)
LEVEL 2 32,330,517 --
LEVEL 3 2,061,500 --
----------- ----------
TOTAL $64,125,177 $(253,250)
=========== ==========
|
* OTHER FINANCIAL INSTRUMENTS ARE WRITTEN COVERED CALL OPTIONS.
CHARTWELL DIVIDEND & INCOME FUND, INC. FEBRUARY 28, 2009
SCHEDULE OF INVESTMENTS (UNAUDITED)
The following is a reconciliation of the investments in which significant
unobservable inputs (Level 3) were used in determining value:
INVESTMENTS IN
SECURITIES
--------------
BALANCE AS OF 11/30/08 $ 5,791,150
ACCRUED DISCOUNTS/PREMIUMS --
REALIZED GAIN/(LOSS) (5,652,009)
CHANGE IN UNREALIZED
APPRECIATION/(DEPRECIATION) 1,963,818
NET PURCHASE/(SALES) (41,459)
NET TRANSFERS IN/AND OR OUT OF LEVEL 3 --
-----------
BALANCE AS OF 2/28/09 $ 2,061,500
===========
|
The inputs or methodology used for valuing securities are not necessarily an
indication of the risks associated with investing in those securities.
FOR INFORMATION ON THE FUND'S POLICY REGARDING VALUATION OF INVESTMENTS AND
OTHER SIGNIFICANT ACCOUNTING POLICIES, PLEASE REFER TO 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 April 29, 2009
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 April 29, 2009
By (Signature and Title)* /s/ G. Gregory Hagar
----------------------------------------
G. Gregory Hagar, Vice President and CFO
(Principal Financial Officer)
|
Date April 29, 2009
* Print the name and title of each signing officer under his or her signature.
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