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, 2007
DATE OF REPORTING PERIOD: AUGUST 31, 2007
ITEM 1. SCHEDULE OF INVESTMENTS
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------ --------------
COMMON STOCK - 72.9%
BANKS - 15.0%
Bank of America Corporation .......................................... 200,000 $ 10,136,000
Huntington Bancshares, Inc. .......................................... 100,000 1,721,000
JPMorgan Chase & Company ............................................. 50,000 2,226,000
US Bancorp ........................................................... 30,000 970,500
Wachovia Corporation ................................................. 110,000 5,387,800
Washington Mutual, Inc. .............................................. 50,000 1,836,000
--------------
22,277,300
--------------
CONSUMER STAPLES - 15.2%
Altria Group, Inc. ................................................... 122,950 8,533,960
B&G Foods, Inc. ...................................................... 41,000 851,570
B&G Foods, Inc., Class A ............................................. 65,000 831,350
Coinmach Corporation, Class A ........................................ 519,105 6,649,735
Gatehouse Media, Inc. ................................................ 95,000 1,236,900
Regal Entertainment Group, Class A ................................... 110,000 2,479,400
Reynolds American, Inc. .............................................. 30,000 1,983,600
--------------
22,566,515
--------------
ENERGY - 5.9%
Baker Hughes, Inc. ................................................... 20,000 1,677,200
Calumet Specialty Products Partners LP (a) ........................... 5,000 243,000
Duncan Energy Partners LP (a) ........................................ 15,000 359,700
Energy Transfer Partners LP (a) ...................................... 50,000 2,602,000
Enterprise Products Partners LP (a) .................................. 50,000 1,475,500
Linn Energy LLC (a) .................................................. 7,000 242,760
Sunoco Logistics Partners LP (a) ..................................... 40,000 2,146,400
--------------
8,746,560
--------------
FINANCIAL - 12.2%
AllianceBernstein Holding LP (a) ..................................... 83,800 6,922,718
American Capital Strategies Limited .................................. 100,000 4,129,000
Apollo Investment Corporation ........................................ 145,000 3,166,800
MCG Capital Corporation .............................................. 125,000 1,815,000
Newcastle Investment Corporation ..................................... 30,000 499,200
Star Asia Financial Limited * ........................................ 50,000 500,000
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1
CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------ --------------
COMMON STOCK (CONTINUED)
FINANCIAL (CONTINUED)
Technology Investment Capital Corporation ............................ 80,595 $ 1,059,018
--------------
18,091,736
--------------
REAL ESTATE INVESTMENT TRUSTS - 8.7%
Alesco Financial, Inc. ............................................... 300,000 1,638,000
CapitalSource, Inc. .................................................. 200,000 3,566,000
Care Investment Trust, Inc. * ........................................ 41,800 479,864
Deerfield Triarc Capital Corporation ................................. 125,000 1,093,750
iStar Financial, Inc. ................................................ 120,000 4,392,000
LTC Properties, Inc. ................................................. 50,000 1,129,000
NorthStar Realty Finance Corporation ................................. 50,000 530,500
--------------
12,829,114
--------------
TELECOMMUNICATIONS - 7.6%
Alaska Communications Systems Group, Inc. ............................ 150,000 2,049,000
Citizens Communications Company ...................................... 200,000 2,902,000
Consolidated Communications Holdings, Inc. ........................... 40,000 743,200
Fairpoint Communications, Inc. ....................................... 100,000 1,673,000
Windstream Corporation ............................................... 270,000 3,855,600
--------------
11,222,800
--------------
TRANSPORTATION - 2.9%
General Maritime Corporation ......................................... 75,000 1,939,500
K-Sea Transportation Partners LP (a) ................................. 10,000 389,300
Paragon Shipping, Inc., Class A * .................................... 50,000 789,500
Teekay LNG Partners LP (a) ........................................... 35,000 1,223,950
--------------
4,342,250
--------------
UTILITIES - 5.4%
AmeriGas Partners LP (a) ............................................. 15,200 532,912
Kinder Morgan Energy Partners LP (a) ................................. 45,000 2,263,050
Oneok Partners LP (a) ................................................ 50,900 3,257,091
TEPPCO Partners LP (a) ............................................... 34,800 1,397,220
Transmontaigne Partners LP (a) ....................................... 15,000 487,650
--------------
7,937,923
--------------
TOTAL COMMON STOCK (COST $104,826,139) ............................... 108,014,198
--------------
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CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------ --------------
PREFERRED TERM SECURITIES + (C) - 10.3%
Alesco Preferred Funding IX, 06/23/36 ................................ 1,000 $ 794,831
Alesco Preferred Funding X, 09/23/36 ................................. 1,000 890,123
Alesco Preferred Funding XI, 12/23/36 ................................ 5,000 422,359
Alesco Preferred Funding XII, 07/15/37 ............................... 5,000 472,250
Alesco Preferred Funding XIII, 09/23/37 .............................. 2,500 236,125
Alesco Preferred Funding XIV, 03/15/37 ............................... 5,000 486,125
Alesco Preferred Funding XV, 12/23/37 ................................ 2,500 243,062
Alesco Preferred Funding XVI, 03/23/38 ............................... 5,000 485,000
I-Preferred Term Securities IV, 06/24/34 ............................. 10,000 827,500
Preferred Term Securities IV, 12/23/31 ............................... 20,000 692,500
Preferred Term Securities XIII, 09/23/37 ............................. 10,000 730,000
Preferred Term Securities XIV, 06/24/34 .............................. 20,000 1,446,000
Preferred Term Securities XV, 09/24/34 ............................... 20,000 1,603,000
Preferred Term Securities XVI, 03/23/35 .............................. 10,000 847,500
Preferred Term Securities XVII, 09/23/35 ............................. 6,000 462,000
Preferred Term Securities XVIII, 06/23/35 ............................ 10,000 783,100
Preferred Term Securities XIX, 12/22/35 .............................. 10,000 807,500
Preferred Term Securities XX, 03/22/38 (d) ........................... 10,000 224,300
Preferred Term Securities XXI, 03/22/38 (d) .......................... 10,000 397,400
Preferred Term Securities XXII, 03/22/37 (d) ......................... 10,000 384,300
Preferred Term Securities XXIII, 12/22/36 (d) ........................ 5,000 257,240
Preferred Term Securities XXIV, 03/22/37 ............................. 5,000 471,500
Preferred Term Securities XXV, 06/22/37 .............................. 5,000 478,750
Taberna Preferred Funding I, 07/05/35 (d) ........................... 2,500 50,000
Taberna Preferred Funding II, 06/30/35 (d) ........................... 5,000 100,000
Taberna Preferred Funding VI Limited, 12/05/36 (d) ................... 5,000 100,000
Taberna Preferred Funding VII, 02/05/37 (d) .......................... 5,000 100,000
US Capital Funding VI Limited Capital Funding VI, 07/10/43 ........... 500,000 500,000
--------------
TOTAL PREFERRED TERM SECURITIES (COST $18,804,283) ...................... 15,292,465
--------------
CONVERTIBLE PREFERRED STOCK - 1.9%
FINANCIAL - 1.9%
ACE Limited, 7.800% .................................................. 26,025 659,994
Merrill Lynch & Company, RIG CAP APP Notes,
Transocean, 11.000% ............................................... 27,148 2,175,098
--------------
TOTAL CONVERTIBLE PREFERRED STOCK (COST $2,663,290) .................. 2,835,092
--------------
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CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------ --------------
PREFERRED STOCK - 2.2%
FINANCIAL - 2.2%
Aspen Insurance Holdings Limited * 20,000 $ 1,045,000
FelCor Lodging Trust, Inc. ........................................... 40,000 948,000
Solar Cayman Limited + * ............................................. 80,000 1,196,800
--------------
TOTAL PREFERRED STOCK (COST $3,346,490) 3,189,800
--------------
PRINCIPAL
AMOUNT
------------
CORPORATE NOTES/BONDS - 43.0%
BASIC INDUSTRY - 6.0%
Actuant Corporation +
6.875%, 06/15/17 .................................................. $ 1,265,000 1,223,888
Baldor Electric Company
8.625%, 02/15/17 .................................................. 630,000 653,625
Buhrmann US, Inc.
8.250%, 07/01/14 .................................................. 620,000 585,900
Idearc, Inc.
8.000%, 11/15/16 .................................................. 1,075,000 1,066,937
Quebecor Media, Inc.
7.750%, 03/15/16 .................................................. 520,000 497,250
TRW Automotive, Inc. +
7.250%, 03/15/17 .................................................. 1,500,000 1,372,500
Verso Paper Holdings LLC and Verson Paper, Inc.
11.375%, 08/01/16 ................................................. 1,000,000 1,025,000
WII Components, Inc.
10.000%, 02/15/12 ................................................. 1,000,000 1,045,000
Williams Scotsman, Inc.
8.500%, 10/01/15 .................................................. 1,370,000 1,486,450
--------------
8,956,550
--------------
CAPITAL GOODS - 2.8%
KAR Holdings, Inc. +
8.750%, 05/01/14 .................................................. 1,270,000 1,149,350
NSG Holdings LLC +
7.750%, 12/15/25 .................................................. 1,200,000 1,171,500
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CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------ --------------
CORPORATE NOTES/BONDS (CONTINUED)
CAPITAL GOODS (CONTINUED)
Trimas Corporation
9.875%, 06/15/12 .................................................. $ 772,000 $ 781,650
U.S. Corrugated
10.000%, 06/01/13 ................................................. 1,000,000 1,000,000
--------------
4,102,500
--------------
CONSUMER CYCLICAL - 5.5%
Allied Security Escrow Corporation
11.375%, 07/15/11 ................................................. 1,015,000 1,015,000
ARAMARK Corporation
8.500%, 02/01/15 .................................................. 1,000,000 1,001,250
Boyd Gaming Corporation
7.125%, 02/01/16 .................................................. 1,100,000 1,039,500
H&E Equipment Services, Inc.
8.375%, 07/15/16 .................................................. 1,175,000 1,210,250
MTR Gaming Group, Inc.
9.000%, 06/01/12 .................................................. 700,000 703,500
Rent-A-Center, Inc.
7.500%, 05/01/10 .................................................. 1,220,000 1,159,000
Rental Service Corporation +
9.500%, 12/01/14 .................................................. 725,000 713,219
Sonic Automotive, Inc., Series B
8.625%, 08/15/13 .................................................. 1,390,000 1,369,150
--------------
8,210,869
--------------
CONSUMER STAPLES - 1.6%
Brown Shoe Company, Inc.
8.750%, 05/01/12 .................................................. 800,000 820,000
Hanesbrands, Inc.
8.784%, 12/15/14 (b) .............................................. 1,025,000 1,028,844
MTR Gaming Group, Inc., Series B
9.750%, 04/01/10 .................................................. 520,000 527,800
--------------
2,376,644
--------------
CREDIT CARD OTHER - 0.6%
Steel Dynamics, Inc. +
6.750%, 04/01/15 .................................................. 945,000 914,287
--------------
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CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------ --------------
CORPORATE NOTES/BONDS (CONTINUED)
ENERGY - 2.6%
Cimarex Energy Company
7.125%, 05/01/17 .................................................. $ 650,000 $ 637,000
Complete Production Services, Inc.
8.000%, 12/15/16 .................................................. 780,000 754,650
Copano Energy LLC
8.125%, 03/01/16 .................................................. 935,000 944,350
Encore Acquisition Company
7.250%, 12/01/17 .................................................. 1,100,000 1,023,000
Pioneer Natural Resources Company
6.650%, 03/15/17 .................................................. 500,000 461,412
--------------
3,820,412
--------------
FINANCIAL - 2.9%
Ford Motor Credit Company
7.000%, 10/01/13 .................................................. 1,950,000 1,738,671
GMAC LLC
7.000%, 02/01/12 .................................................. 1,470,000 1,322,279
LaBranche & Company, Inc.
11.000%, 05/15/12 ................................................. 1,260,000 1,253,700
--------------
4,314,650
--------------
HEALTHCARE - 2.1%
Hanger Orthopedic Group, Inc.
10.250%, 06/01/14 ................................................. 1,000,000 1,027,500
HCA, Inc. +
9.125%, 11/15/14 .................................................. 1,000,000 1,027,500
Iasis Healthcare Corporation
8.750%, 06/15/14 .................................................. 1,000,000 980,000
--------------
3,035,000
--------------
INDUSTRIAL - 10.2%
Blount, Inc.
8.875%, 08/01/12 .................................................. 750,000 753,750
Chemtura Corporation
6.875%, 06/01/16 .................................................. 1,000,000 917,500
Cie Generale Geophysique
7.750%, 05/15/17 .................................................. 1,000,000 1,015,000
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CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------ --------------
CORPORATE NOTES/BONDS (CONTINUED)
INDUSTRIAL (CONTINUED)
Freeport-McMoRan Copper &, Inc.
8.375%, 04/01/17 .................................................. $ 1,000,000 $ 1,067,500
Georgia-Pacific Corporation +
7.125%, 01/15/17 .................................................. 100,000 94,500
Gibraltar Industries, Inc.
8.000%, 12/01/15 .................................................. 1,340,000 1,266,300
Hughes Network Systems
9.500%, 04/15/14 .................................................. 855,000 850,725
Ineos Group Holdings +
8.500%, 02/15/16 .................................................. 1,020,000 943,500
Lear Corporation, Series B
8.750%, 12/01/16 .................................................. 585,000 544,050
Momentive Performance +
9.750%, 12/01/14 .................................................. 1,000,000 957,500
Nalco Company
7.750%, 11/15/11 .................................................. 1,050,000 1,073,625
P H Glatfelter
7.125%, 05/01/16 + ................................................ 1,190,000 1,178,100
Quebecor World Capital Corporation +
8.750%, 03/15/16 .................................................. 975,000 882,375
Superior Essex Communications LLC
9.000%, 04/15/12 .................................................. 1,450,000 1,446,375
Tronox Worldwide Finance Corporation
9.500%, 12/01/12 .................................................. 1,285,000 1,304,275
Wimar Opco LLC +
9.625%, 12/15/14 .................................................. 1,150,000 856,750
--------------
15,151,825
--------------
PHARMACY SERVICES - 0.4%
Omnicare, Inc.
6.875%, 12/15/15 .................................................. 650,000 609,375
--------------
REAL ESTATE - 0.9%
Geo Group, Inc.
8.250%, 07/15/13 .................................................. 1,340,000 1,345,025
--------------
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CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
PRINCIPAL MARKET
AMOUNT VALUE
------------ --------------
CORPORATE NOTES/BONDS (CONTINUED)
TELECOMMUNICATIONS - 4.9%
Allbritton Communications Company
7.750%, 12/15/12 .................................................. $ 1,315,000 $ 1,291,987
Cincinnati Bell, Inc.
8.375%, 01/15/14 .................................................. 960,000 955,200
CSC Holdings, Inc.
7.875%, 02/15/18 .................................................. 1,285,000 1,211,113
DIRECTV Holdings LLC
6.375%, 06/15/15 .................................................. 750,000 705,000
Echostar DBS
6.625%, 10/01/14 .................................................. 715,000 693,550
Intelsat Holdings Company
8.625%, 01/15/15 .................................................. 1,155,000 1,167,994
Mediacom Broadband LLC
8.500%, 10/15/15 .................................................. 1,250,000 1,243,750
--------------
7,268,594
--------------
TRANSPORTATION - 0.7%
Ship Finance International Limited
8.500%, 12/15/13 .................................................. 1,000,000 1,020,000
--------------
TRANSPORT-SERVICES - 0.7%
Bristow Group, Inc. +
7.500%, 09/15/17 .................................................. 1,030,000 1,030,000
--------------
UTILITIES - 1.1%
Edison Mission Energy +
7.000%, 05/15/17 .................................................. 650,000 617,500
Elwood Energy LLC
8.159%, 07/05/26 .................................................. 1,007,318 1,030,010
--------------
1,647,510
--------------
TOTAL CORPORATE NOTES/BONDS (COST $65,226,401) ....................... 63,803,241
--------------
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CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
NUMBER OF MARKET
SHARES VALUE
------------ --------------
CASH EQUIVALENTS (e) - 5.7%
SEI Daily Income Trust, Prime Obligations Fund, Class B Shares,
5.190% ............................................................ 504,284 $ 504,284
SEI Daily Income Trust, Prime Obligations Fund, Class A Shares,
5.500% ............................................................ 4,664,225 4,664,225
SEI Daily Income Trust, Treasury Fund, Class A Shares, 4.890% ........ 3,244,269 3,244,269
--------------
TOTAL CASH EQUIVALENTS (COST $8,412,778) ............................. 8,412,778
--------------
TOTAL INVESTMENTS - 136.0% (COST $203,279,381) ** .................... $ 201,547,574
--------------
CALL OPTIONS WRITTEN - (0.4)%
WRITTEN
CONTRACTS
------------
AllianceBernstein Holding LP, Expires: 09/22/07, Strike
Price: $85 ........................................................ (100) $ (13,000)
AllianceBernstein Holding LP, Expires: 10/23/07, Strike
Price: $90 ........................................................ (100) (13,000)
Altria Group, Inc., Expires: 09/25/07, Strike Price: $70 ............. (100) (6,000)
Altria Group, Inc., Expires: 12/26/07, Strike Price: $75 ............. (200) (18,000)
American Capital Strategies Limited, Expires: 09/25/07,
Strike Price: $40 ................................................. (300) (51,000)
Apollo Investment Corporation, Expires: 10/23/07, Strike
Price: $23 ........................................................ (400) (19,000)
Baker Hughes, Inc., Expires: 09/25/07, Strike Price: $85 ............. (100) (21,000)
Baker Hughes, Inc., Expires: 09/25/07, Strike Price: $80 ............. (100) (52,000)
Bank of America Corporation, Expires: 09/22/07, Strike
Price: $53 ........................................................ (220) (5,500)
CapitalSource, Inc., Expires: 09/25/07, Strike Price: $20 ............ (1,000) (20,000)
CapitalSource, Inc., Expires: 10/23/07, Strike Price: $20 ............ (100) (4,000)
Huntington Bancshares, Inc., Expires: 09/25/07, Strike
Price: $18 ........................................................ (1,000) (40,000)
JPMorgan Chase & Company, Expires: 10/23/07, Strike
Price: $50 ........................................................ (500) (20,000)
PHLX Index, Expires: 09/25/07, Strike Price: $110 .................... (100) (11,000)
PHLX Index, Expires: 09/25/07, Strike Price: $115 .................... (100) (2,000)
Regal Entertainment Group, Expires: 10/23/07, Strike
Price: $23 ........................................................ (600) (37,500)
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9
CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
WRITTEN MARKET
CONTRACTS VALUE
------------ --------------
CALL OPTIONS WRITTEN (CONTINUED)
Reynolds American, Inc., Expires: 09/25/07, Strike
Price: $65 ........................................................ (200) $ (36,000)
Reynolds American, Inc., Expires: 11/20/07, Strike
Price: $70 ........................................................ (100) (11,000)
US Bancorp, Expires: 09/25/07,
Expires: 09/25/07, Strike Price: $33 .............................. (200) (15,000)
S&P 500 Index, Expires: 09/25/07, Strike Price: $1,525 ............... (200) (37,500)
S&P 500 Index, Expires: 09/25/07, Strike Price: $1,490 ............... (300) (114,500)
Wachovia Corporation, Expires: 09/25/07, Strike Price: $50 ........... (300) (30,000)
Washington Mutual, Inc., Expires: 09/25/07, Strike
Price: $40 ........................................................ (500) (15,000)
TOTAL COVERED CALL OPTIONS WRITTEN
(PREMIUMS RECEIVED $685,832) ...................................... (592,000)
--------------
OTHER LIABILITIES IN EXCESS OF ASSETS - (35.6)% ++ ...................... (52,775,139)
--------------
NET ASSETS - 100.0% ..................................................... $ 148,180,435
--------------
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* NON-INCOME PRODUCING SECURITY.
** AT AUGUST 31, 2007, THE TAX BASIS COST OF THE FUND'S INVESTMENTS WAS
$203,279,381, AND THE UNREALIZED APPRECIATION AND DEPRECIATION WERE
$10,506,908 AND $(12,238,715), RESPECTIVELY.
++ AS OF AUGUST 31, 2007, $55,000,000 OF COMMERCIAL PAPER WAS
OUTSTANDING WITH AN AMORTIZED COST OF $54,630,836. THE AVERAGE
DISCOUNT RATE OF COMMERCIAL PAPER OUTSTANDING AT AUGUST 31, 2007,
WAS 5.38%. THE AVERAGE DAILY BALANCE OF COMMERCIAL PAPER OUTSTANDING
FOR THE QUARTER ENDED AUGUST 31, 2007 WAS $54,637,281 AT A WEIGHTED
AVERAGE DISCOUNT RATE OF 5.36%. THE MAXIMUM FACE AMOUNT OF
COMMERCIAL PAPER OUTSTANDING AT ANY TIME DURING THE QUARTER ENDED
AUGUST 31, 2007, WAS $55,000,000. IN CONJUNCTION WITH THE ISSUANCE
OF THE COMMERCIAL PAPER, THE FUND HAS ENTERED ONTO A LINE OF CREDIT
ARRANGEMENT WITH A BANK FOR $30,000,000. INTEREST ON BORROWING IS
BASED ON MARKET RATES IN EFFECT AT THE TIME OF BORROWING. THE
COMMITMENT FEE IS COMPUTED AT THE RATE OF 0.30% PER ANNUM ON THE
UNUSED BALANCE. THERE WERE NO BORROWINGS UNDER THIS ARRANGEMENT
DURING THE QUARTER ENDED AUGUST 31, 2007.
+ 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, 2007, THESE SECURITIES AMOUNTED TO
$30,621,734 OR 20.67% OF NET ASSETS.
10
CHARTWELL
CHARTWELL DIVIDEND & INCOME FUND, INC. AUGUST 31, 2007
SCHEDULE OF INVESTMENTS (UNAUDITED)
(a) SECURITIES CONSIDERED MASTER LIMITED PARTNERSHIPS. AT AUGUST 31,
2007, THESE SECURITIES AMOUNTED TO $23,543,251 OR 15.89% OF NET
ASSETS.
(b) VARIABLE RATE SECURITY -- THE RATE REPORTED ON THE SCHEDULE OF
INVESTMENTS IS THE RATE IN EFFECT AT AUGUST 31, 2007.
(c) SECURITIES CONSIDERED ILLIQUID. THE TOTAL VALUE OF SUCH SECURITIES
AS OF AUGUST 31, 2007 WAS $15,292,465 OR 10.30% OF NET ASSETS.
(d) SECURITY FAIR VALUED USING METHODS DETERMINED IN GOOD FAITH BY THE
VALUATION COMMITTEE OF THE BOARD OF TRUSTEES. THE TOTAL VALUE OF
SUCH SECURITIES AS OF AUGUST 31, 2007 WAS $1,613,240 AND REPRESENTED
1.09% OF NET ASSETS.
(e) THE RATE SHOWN IS THE 7-DAY EFFECTIVE YIELD AS OF AUGUST 31, 2007.
LLC LIMITED LIABILITY COMPANY
LP LIMITED PARTNERSHIP
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.
CIP-QH-003-0200
11
CHARTWELL
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 17, 2007
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 17, 2007
By (Signature and Title)* /s/ G. Gregory Hagar
-----------------------------------
G. Gregory Hagar, Vice President, Treasurer
and CFO (Principal Financial Officer)
|
Date October 17, 2007
* Print the name and title of each signing officer under his or her signature.
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