Dividend Declaration

SMALL COMPANIES DIVIDEND TRUST PLC

DIVIDEND DECLARATION

The Company has today declared a first interim dividend in respect of the year
1 May 2014 to 30 April 2015.

A first interim dividend of 1.575p per Ordinary share will be paid on 
18 September 2014 to the holders of Ordinary shares on the register at 5 September
2014, with an ex-dividend date of 3 September 2014.

It is the Board's intention, over time, to move the dividend profile gradually
to a position where the four interim dividends paid are equal.  This will be
achieved by maintaining the fourth interim dividend at the same level and
increasing the first, second and third dividends in future years to reflect
earnings.

27 August 2014