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

811-21633

 

Cohen & Steers Dividend Majors Fund, Inc.

(Exact name of registrant as specified in charter)

 

280 Park Avenue
New York, NY

 

10017

(Address of principal executive offices)

 

(Zip code)

 

Tina M. Payne
280 Park Avenue
New York, NY 10017

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

(212) 832-3232

 

 

Date of fiscal year end:

December 31

 

 

Date of reporting period:

September 30, 2012

 

 


 

Item 1. Schedule of Investments

 


 

COHEN & STEERS DIVIDEND MAJORS FUND, INC.

 

SCHEDULE OF INVESTMENTS

September 30, 2012 (Unaudited)

 

 

 

Number
of Shares

 

Value

 

COMMON STOCK 98.9%

 

 

 

 

 

CONSUMER—CYCLICAL 5.7%

 

 

 

 

 

AUTO PARTS EQUIPMENT 0.4%

 

 

 

 

 

Johnson Controls

 

29,900

 

$

819,260

 

HOME BUILDERS 0.1%

 

 

 

 

 

D.R. Horton

 

12,000

 

247,680

 

LEISURE TIME 0.2%

 

 

 

 

 

Carnival Corp. (Panama)

 

11,500

 

419,060

 

MEDIA 2.0%

 

 

 

 

 

News Corp., Class A(a)

 

17,000

 

417,010

 

The Walt Disney Co.

 

41,200

 

2,153,936

 

Time Warner Cable

 

12,100

 

1,150,226

 

 

 

 

 

3,721,172

 

RESTAURANT 1.2%

 

 

 

 

 

McDonald’s Corp.(a)

 

20,400

 

1,871,700

 

Tim Hortons (Canada)

 

5,700

 

296,625

 

 

 

 

 

2,168,325

 

RETAIL 1.0%

 

 

 

 

 

Nordstrom

 

17,700

 

976,686

 

Ross Stores(a)

 

15,300

 

988,380

 

 

 

 

 

1,965,066

 

SPECIALTY RETAIL 0.8%

 

 

 

 

 

PetSmart(a)

 

7,000

 

482,860

 

Tiffany & Co.

 

16,100

 

996,268

 

 

 

 

 

1,479,128

 

TOTAL CONSUMER—CYCLICAL

 

 

 

10,819,691

 

CONSUMER—NON-CYCLICAL 5.0%

 

 

 

 

 

AGRICULTURE 1.2%

 

 

 

 

 

Philip Morris International(a)

 

26,000

 

2,338,440

 

BEVERAGE 0.7%

 

 

 

 

 

PepsiCo

 

19,900

 

1,408,323

 

COSMETICS/PERSONAL CARE 0.7%

 

 

 

 

 

Procter & Gamble Co.

 

17,900

 

1,241,544

 

RETAIL 2.4%

 

 

 

 

 

Costco Wholesale Corp.(a)

 

14,100

 

1,411,763

 

CVS Caremark Corp.(a)

 

40,400

 

1,956,168

 

 

1


 

 

 

Number
of Shares

 

Value

 

Wal-Mart Stores

 

16,000

 

$

1,180,800

 

 

 

 

 

4,548,731

 

TOTAL CONSUMER— NON-CYCLICAL

 

 

 

9,537,038

 

ENERGY 6.3%

 

 

 

 

 

OIL & GAS 5.7%

 

 

 

 

 

Apache Corp.(a)

 

13,700

 

1,184,639

 

Chevron Corp.(a)

 

25,200

 

2,937,312

 

Devon Energy Corp.

 

24,100

 

1,458,050

 

Exxon Mobil Corp.(a)

 

29,600

 

2,706,920

 

Marathon Petroleum Corp.

 

21,500

 

1,173,685

 

Occidental Petroleum Corp.(a)

 

15,800

 

1,359,748

 

 

 

 

 

10,820,354

 

OIL & GAS SERVICES 0.6%

 

 

 

 

 

Schlumberger Ltd.

 

16,500

 

1,193,445

 

TOTAL ENERGY

 

 

 

12,013,799

 

FINANCIAL 7.7%

 

 

 

 

 

BANKS 2.4%

 

 

 

 

 

Bank of New York Mellon Corp.(a)

 

17,500

 

395,850

 

Comerica(a)

 

30,400

 

943,920

 

US Bancorp

 

38,400

 

1,317,120

 

Wells Fargo & Co.

 

53,300

 

1,840,449

 

 

 

 

 

4,497,339

 

CREDIT CARD 0.8%

 

 

 

 

 

American Express Co.(a)

 

26,900

 

1,529,534

 

DIVERSIFIED FINANCIAL SERVICES 2.7%

 

 

 

 

 

BlackRock

 

4,100

 

731,030

 

Citigroup(a)

 

33,200

 

1,086,304

 

Franklin Resources(a)

 

2,200

 

275,154

 

Goldman Sachs Group

 

5,000

 

568,400

 

JPMorgan Chase & Co.(a)

 

64,000

 

2,590,720

 

 

 

 

 

5,251,608

 

INSURANCE 1.8%

 

 

 

 

 

Aflac(a)

 

15,500

 

742,140

 

Chubb Corp.(a)

 

10,300

 

785,684

 

Power Corp. (Canada)

 

24,600

 

598,047

 

 

2


 

 

 

Number
of Shares

 

Value

 

Prudential Financial(a)

 

23,600

 

$

1,286,436

 

 

 

 

 

3,412,307

 

TOTAL FINANCIAL

 

 

 

14,690,788

 

HEALTH CARE 5.6%

 

 

 

 

 

BIOTECHNOLOGY 0.3%

 

 

 

 

 

Amgen(a)

 

6,300

 

531,216

 

HEALTH CARE PROVIDERS & SERVICES 1.0%

 

 

 

 

 

UnitedHealth Group(a)

 

34,200

 

1,895,022

 

HEALTHCARE PRODUCTS 2.0%

 

 

 

 

 

Becton Dickinson & Co.

 

10,600

 

832,736

 

Covidien PLC (Ireland)

 

28,900

 

1,717,238

 

Johnson & Johnson

 

15,000

 

1,033,650

 

Patterson Cos.

 

7,800

 

267,072

 

 

 

 

 

3,850,696

 

PHARMACEUTICAL 2.3%

 

 

 

 

 

Abbott Laboratories(a)

 

21,200

 

1,453,472

 

Merck & Co.

 

33,900

 

1,528,890

 

Pfizer

 

54,400

 

1,351,840

 

 

 

 

 

4,334,202

 

TOTAL HEALTH CARE

 

 

 

10,611,136

 

INDUSTRIALS 5.2%

 

 

 

 

 

AEROSPACE & DEFENSE 1.7%

 

 

 

 

 

General Dynamics Corp.(a)

 

7,000

 

462,840

 

L-3 Communications Holdings

 

13,100

 

939,401

 

Lockheed Martin Corp.

 

8,000

 

747,040

 

United Technologies Corp.

 

15,100

 

1,182,179

 

 

 

 

 

3,331,460

 

DIVERSIFIED MANUFACTURING 1.2%

 

 

 

 

 

Eaton Corp.(a)

 

4,900

 

231,574

 

General Electric Co.

 

53,400

 

1,212,714

 

Parker Hannifin Corp.(a)

 

9,000

 

752,220

 

 

 

 

 

2,196,508

 

ELECTRICAL EQUIPMENT 0.7%

 

 

 

 

 

Emerson Electric Co.

 

25,800

 

1,245,366

 

MACHINERY 0.2%

 

 

 

 

 

Finning International (Canada)

 

16,200

 

392,847

 

 

3


 

 

 

Number
of Shares

 

Value

 

TRANSPORTATION 1.4%

 

 

 

 

 

Norfolk Southern Corp.

 

19,100

 

$

1,215,333

 

United Parcel Service(a)

 

19,400

 

1,388,458

 

 

 

 

 

2,603,791

 

TOTAL INDUSTRIALS

 

 

 

9,769,972

 

MATERIALS 1.5%

 

 

 

 

 

CHEMICALS 0.8%

 

 

 

 

 

Dow Chemical Co.(a)

 

12,000

 

347,520

 

Ecolab(a)

 

4,000

 

259,240

 

Potash Corp. of Saskatchewan (Canada)

 

21,800

 

947,527

 

 

 

 

 

1,554,287

 

METALS & MINING 0.7%

 

 

 

 

 

Allegheny Technologies

 

8,000

 

255,200

 

Freeport-McMoRan Copper & Gold

 

12,300

 

486,834

 

Newmont Mining Corp.(a)

 

8,900

 

498,489

 

 

 

 

 

1,240,523

 

TOTAL MATERIALS

 

 

 

2,794,810

 

REAL ESTATE 48.2%

 

 

 

 

 

DIVERSIFIED 3.4%

 

 

 

 

 

American Assets Trust

 

26,062

 

698,201

 

Coresite Realty Corp.

 

17,400

 

468,756

 

Forest City Enterprises, Class A(a),(b)

 

32,200

 

510,370

 

Vornado Realty Trust

 

59,401

 

4,814,451

 

 

 

 

 

6,491,778

 

HEALTH CARE 5.0%

 

 

 

 

 

HCP

 

92,328

 

4,106,749

 

Health Care REIT

 

13,825

 

798,394

 

LTC Properties

 

14,700

 

468,195

 

Ventas

 

66,200

 

4,120,950

 

 

 

 

 

9,494,288

 

HOTEL 3.0%

 

 

 

 

 

Chesapeake Lodging Trust

 

42,842

 

851,271

 

Hersha Hospitality Trust

 

131,339

 

643,561

 

Host Hotels & Resorts

 

44,468

 

713,711

 

Hyatt Hotels Corp., Class A(b)

 

29,912

 

1,200,967

 

Pebblebrook Hotel Trust

 

30,600

 

715,734

 

Starwood Hotels & Resorts Worldwide

 

9,400

 

544,824

 

 

4


 

 

 

Number
of Shares

 

Value

 

Strategic Hotels & Resorts Worldwide(b)

 

160,465

 

$

964,395

 

 

 

 

 

5,634,463

 

INDUSTRIALS 3.5%

 

 

 

 

 

DCT Industrial Trust

 

134,501

 

870,221

 

Prologis

 

137,089

 

4,802,228

 

STAG Industrial

 

62,650

 

1,018,689

 

 

 

 

 

6,691,138

 

OFFICE 5.9%

 

 

 

 

 

Alexandria Real Estate Equities

 

19,600

 

1,440,992

 

Boston Properties

 

17,730

 

1,961,115

 

Brookfield Office Properties (Canada)

 

75,600

 

1,251,936

 

Corporate Office Properties Trust

 

39,414

 

944,754

 

Douglas Emmett

 

49,830

 

1,149,578

 

Highwoods Properties

 

21,900

 

714,378

 

Hudson Pacific Properties

 

40,207

 

743,829

 

Kilroy Realty Corp.

 

25,429

 

1,138,711

 

SL Green Realty Corp.

 

23,741

 

1,900,942

 

 

 

 

 

11,246,235

 

OFFICE/INDUSTRIALS 0.4%

 

 

 

 

 

PS Business Parks

 

10,500

 

701,610

 

RESIDENTIAL—APARTMENT 9.0%

 

 

 

 

 

American Campus Communities

 

26,985

 

1,184,102

 

Apartment Investment & Management Co.

 

64,061

 

1,664,945

 

AvalonBay Communities

 

15,300

 

2,080,647

 

BRE Properties

 

24,000

 

1,125,360

 

Colonial Properties Trust

 

66,600

 

1,401,930

 

Education Realty Trust

 

43,439

 

473,485

 

Equity Residential

 

56,571

 

3,254,530

 

Essex Property Trust

 

12,800

 

1,897,472

 

Home Properties

 

15,376

 

942,088

 

Mid-America Apartment Communities

 

20,800

 

1,358,448

 

UDR

 

65,900

 

1,635,638

 

 

 

 

 

17,018,645

 

SELF STORAGE 3.2%

 

 

 

 

 

CubeSmart

 

55,300

 

711,711

 

Extra Space Storage

 

28,500

 

947,625

 

Public Storage

 

24,100

 

3,353,997

 

 

5


 

 

 

Number
of Shares

 

Value

 

Sovran Self Storage

 

18,600

 

$

1,076,010

 

 

 

 

 

6,089,343

 

SHOPPING CENTERS 13.4%

 

 

 

 

 

COMMUNITY CENTER 4.5%

 

 

 

 

 

Acadia Realty Trust

 

28,898

 

717,248

 

DDR Corp.

 

63,100

 

969,216

 

Federal Realty Investment Trust

 

18,394

 

1,936,888

 

Kimco Realty Corp.

 

94,800

 

1,921,596

 

Ramco-Gershenson Properties Trust

 

35,523

 

445,103

 

Regency Centers Corp.

 

39,410

 

1,920,449

 

Retail Properties of America

 

51,527

 

583,286

 

 

 

 

 

8,493,786

 

FREE STANDING 0.5%

 

 

 

 

 

National Retail Properties

 

31,300

 

954,650

 

REGIONAL MALL 8.4%

 

 

 

 

 

General Growth Properties

 

157,940

 

3,076,671

 

Glimcher Realty Trust

 

140,100

 

1,480,857

 

Simon Property Group

 

71,671

 

10,880,375

 

Taubman Centers

 

6,100

 

468,053

 

 

 

 

 

15,905,956

 

TOTAL SHOPPING CENTERS

 

 

 

25,354,392

 

SPECIALTY 1.4%

 

 

 

 

 

Digital Realty Trust

 

19,719

 

1,377,372

 

DuPont Fabros Technology

 

26,032

 

657,308

 

Rayonier

 

14,600

 

715,546

 

 

 

 

 

2,750,226

 

TOTAL REAL ESTATE

 

 

 

91,472,118

 

TECHNOLOGY 10.8%

 

 

 

 

 

COMPUTERS 3.0%

 

 

 

 

 

Apple

 

5,600

 

3,736,656

 

International Business Machines Corp.

 

9,700

 

2,012,265

 

 

 

 

 

5,748,921

 

INTERNET SERVICE PROVIDER 0.8%

 

 

 

 

 

Google(b)

 

1,900

 

1,433,550

 

SEMICONDUCTORS 0.4%

 

 

 

 

 

Avago Technologies Ltd. (Singapore)

 

6,600

 

230,109

 

 

6


 

 

 

Number
of Shares

 

Value

 

Intel Corp.

 

26,500

 

$

601,020

 

 

 

 

 

831,129

 

SERVICES 1.2%

 

 

 

 

 

Visa, Class A(a)

 

17,100

 

2,296,188

 

SOFTWARE 2.9%

 

 

 

 

 

Microsoft Corp.

 

58,200

 

1,733,196

 

Oracle Corp.(a)

 

77,300

 

2,434,177

 

Symantec Corp.(b)

 

73,200

 

1,317,600

 

 

 

 

 

5,484,973

 

TELECOMMUNICATION EQUIPMENT 2.5%

 

 

 

 

 

Cisco Systems(a)

 

90,800

 

1,733,372

 

Harris Corp.

 

10,200

 

522,444

 

QUALCOMM(a)

 

38,700

 

2,418,363

 

 

 

 

 

4,674,179

 

TOTAL TECHNOLOGY

 

 

 

20,468,940

 

TELECOMMUNICATION SERVICES 1.5%

 

 

 

 

 

AT&T(a)

 

44,900

 

1,692,730

 

Rogers Communications (Canada)

 

30,100

 

1,218,574

 

 

 

 

 

2,911,304

 

UTILITIES 1.4%

 

 

 

 

 

ELECTRIC UTILITIES 0.6%

 

 

 

 

 

NextEra Energy

 

16,700

 

1,174,511

 

MULTI-UTILITIES 0.8%

 

 

 

 

 

Wisconsin Energy Corp.(a)

 

37,400

 

1,408,858

 

TOTAL UTILITIES

 

 

 

2,583,369

 

TOTAL COMMON STOCK
(Identified cost—$144,536,715)

 

 

 

187,672,965

 

SHORT-TERM INVESTMENTS 1.2%

 

 

 

 

 

MONEY MARKET FUNDS

 

 

 

 

 

BlackRock Liquidity Funds: FedFund, 0.01%(c)

 

1,200,157

 

1,200,157

 

Federated Government Obligations Fund, 0.02%(c)

 

1,150,140

 

1,150,140

 

TOTAL SHORT-TERM INVESTMENTS
(Identified cost—$2,350,297)

 

 

 

2,350,297

 

 

7


 

 

 

 

 

 

 

Value

 

 

 

 

 

 

 

 

 

TOTAL INVESTMENTS (Identified cost—$146,887,012)

 

100.1

%

 

 

$

190,023,262

 

 

 

 

 

 

 

 

 

WRITTEN CALL OPTIONS

 

(0.1

)%

 

 

(166,190

)

 

 

 

 

 

 

 

 

LIABILITIES IN EXCESS OF OTHER ASSETS

 

0.0

%

 

 

(28,793

)

 

 

 

 

 

 

 

 

NET ASSETS (Equivalent to $15.04 per share based on 12,621,954 shares of common stock outstanding)

 

100.0

%

 

 

$

189,828,279

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of
Contracts

 

 

 

WRITTEN CALL OPTIONS (0.1)%

 

 

 

 

 

 

 

S&P 500 Index, USD Strike Price 1,465, 10/20/12

 

 

 

187

 

$

(121,550

)

S&P 500 Index, USD Strike Price 1,470, 10/20/12

 

 

 

96

 

(44,640

)

TOTAL WRITTEN CALL OPTIONS
(Premiums Received—$472,665)

 

 

 

 

 

$

(166,190

)

 

 

 

 

Glossary of Portfolio Abbreviations

 

 

 

 

 

 

REIT

Real Estate Investment Trust

 

 

USD

United States Dollar

 

 

Note: Percentages indicated are based on the net assets of the Fund.

(a) All or a portion of the security is pledged in connection with written option contracts. $11,849,349 in aggregate has been pledged to brokers.

(b) Non-income producing security.

(c) Rate quoted represents the seven-day yield of the fund.

 

8

 


 

Cohen & Steers Dividend Majors Fund, Inc.

 

NOTES TO FINANCIAL STATEMENTS (Unaudited)

 

Note 1. Portfolio Valuation

 

Investments in securities that are listed on the New York Stock Exchange are valued, except as indicated below, at the last sale price reflected at the close of the New York Stock Exchange on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price. Exchange traded options are valued at their last sale price as of the close of options trading on applicable exchanges.  In the absence of a last sale price, options are valued at the average of the quoted bid and ask prices as of the close of business. Over-the-counter options quotations are valued by the respective counterparty.

 

Securities not listed on the New York Stock Exchange but listed on other domestic or foreign securities exchanges are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price reflected at the close of the exchange representing the principal market for such securities on the business day as of which such value is being determined. If after the close of a foreign market, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain foreign securities may be fair valued pursuant to procedures established by the Board of Directors.

 

Readily marketable securities traded in the over-the-counter market, including listed securities whose primary market is believed by the investment manager to be over-the-counter, are valued at the last sale price on the valuation date as reported by sources deemed appropriate by the Board of Directors to reflect their fair market value. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price.

 

Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates value. Investments in open-end mutual funds are valued at their closing net asset value.

 

The policies and procedures approved by the Fund’s Board of Directors delegate authority to make fair value determinations to the investment manager, subject to the oversight of the Board of Directors. The investment manager has established a valuation committee (Valuation Committee) to administer, implement and oversee the fair valuation process according to the policies and procedures approved annually by the Board of Directors. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

 

Securities for which market prices are unavailable, or securities for which the investment manager determines that the bid and/or ask price or a counterparty valuation does not reflect market value, will be valued at fair value, as determined in good faith by the Valuation Committee, pursuant to procedures approved by the Fund’s Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material

 


 

Cohen & Steers Dividend Majors Fund, Inc.

 

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

 

events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include, but are not limited to, recent transactions in comparable securities, information relating to the specific security and developments in the markets.

 

The Fund’s use of fair value pricing may cause the net asset value of Fund shares to differ from the net asset value that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.

 

Fair value is defined as the price that the Fund would expect to receive upon the sale of an investment or expect to pay to transfer a liability in an orderly transaction with an independent buyer in the principal market or, in the absence of a principal market, the most advantageous market for the investment or liability.  The hierarchy of inputs that are used in determining the fair value of the Fund’s investments is summarized below.

 

·       Level 1 – quoted prices in active markets for identical investments

·                   Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, credit risk, etc.)

·                   Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

 

For movements between the levels within the fair value hierarchy, the Fund has adopted a policy of recognizing the transfer at the end of the period in which the underlying event causing the movement occurred. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. There were no transfers between Level 1 and Level 2 securities during the period ended September 30, 2012.

 

The following is a summary of the inputs used as of September 30, 2012 in valuing the Fund’s investments carried at value:

 

 

 

 

 

Quoted Prices In
Active Markets for
Identical Investments

 

Other Significant
Observable
Inputs

 

Significant
Unobservable
Inputs

 

 

 

Total

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Common Stock

 

$

187,672,965

 

$

187,672,965

 

$

—

 

$

—

 

Money Market Funds

 

2,350,297

 

—

 

2,350,297

 

—

 

Total Investments(a)

 

$

190,023,262

 

$

187,672,965

 

$

2,350,297

 

$

—

 

Written call options

 

(166,190

)

(166,190

)

—

 

—

 

Total Other Financial Instruments(a)

 

$

(166,190

)

$

(166,190

)

$

—

 

$

—

 

 


 

Cohen & Steers Dividend Majors Fund, Inc.

 

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

 

(a) Portfolio holdings are disclosed individually on the Schedule of Investments.

 

Note 2. Derivative Instruments

 

The following is a summary of the Fund’s derivative instruments as of September 30, 2012:

 

Written call options

 

$

(166,190

)

 

Options:  The Fund writes call options on an index and may write put options on an index and put and covered call options on securities with the intention of earning option premiums. Option premiums may increase the Fund’s realized gains and therefore may help increase distributable income. When the Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded on the Statement of Assets and Liabilities as a liability. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss.  If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by the Fund.  If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying index or security. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.

 

Transactions in options written during the nine months ended September 30, 2012, were as follows:

 

 

 

Number
of Contracts

 

Premium

 

Options outstanding at December 31, 2011

 

336

 

$

687,168

 

Options written

 

2,997

 

5,810,621

 

Options terminated in closing transactions

 

(3,050

)

(6,025,124

)

Options outstanding at September 30, 2012

 

283

 

$

472,665

 

 

Note 3. Income Tax Information

 

As of September 30, 2012, the federal tax cost and unrealized appreciation and depreciation in value of securities held were as follows:

 

Cost for federal income tax purposes

 

$

146,887,012

 

Gross unrealized appreciation

 

$

44,459,193

 

Gross unrealized depreciation

 

(1,322,943

)

Net unrealized appreciation

 

$

43,136,250

 

 


 

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) are effective based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act as of a date within 90 days of the filing of this report.

 

(b)                                  During the last fiscal quarter, there were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

 

(a)                                  Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.

 


 

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.

 

COHEN & STEERS DIVIDEND MAJORS FUND, INC.

 

 

By:

/s/ Adam M. Derechin

 

 

 

Name:

Adam M. Derechin

 

 

 

Title:

President

 

 

 

 

 

 

 

 

Date: November 28, 2012

 

 

 

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:

/s/ Adam M. Derechin

 

By:

/s/ James Giallanza

 

Name:

Adam M. Derechin

 

 

Name:

James Giallanza

 

Title:

President and Principal Executive Officer

 

 

Title:

Treasurer and Principal Financial Officer

 

 

 

 

 

 

 

 

Date: November 28, 2012

 

 

 

 

 

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