Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 17/07/2015) of £45.2m
Net Assets (including unaudited revenue reserves at 17/07/2015) of £35.14m
The Net Asset Value (NAV) at 17/07/2015 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		212.35p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		209.71p
Ordinary share price		181.50p
Discount to NAV		(14.53)%
Ordinary shares have an undated life
ZDP share		118.31p	8,500,000
ZDP share price		125.13p
Premium to NAV		5.76%
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018
*Current period revenue covers the period 01/05/2014 to 17/07/2015

		Name of company	% of portfolio
1		Avesco Group Plc Ordinary 10p	3.34
2		Clarke (T.) Plc Ordinary 10p	2.55
3		Jarvis Securities Plc Ordinary 1p	2.36
4		Connect Group Plc Ordinary 5p	2.33
5		Kier Group PLC Ordinary 1p	2.29
6		Alumasc Group (The) Plc Ordinary 12.5p	2.25
7		Dairy Crest Group Plc Ordinary 25p	2.22
8		Kcom Group Plc Ordinary 10p	2.17
9		Braemar Shipping Services Plc GBp 10	2.13
10		Wilmington Plc Ordinary 5p	2.04
11		Town Centre Securities Plc REIT 25p	2.04
12		Acal Plc Ordinary 5p	2.03
13		Intermediate Capital Group Plc Ordinary 20p	1.95
14		Marston's Plc Ordinary 7.375p	1.95
15		GVC Holdings Plc Common EUR0.01	1.94
16		DX Group Plc GBP0.01	1.89
17		Brown (N) Group Ordinary 11.052p	1.86
18		Stadium Group Plc Ordinary 5p	1.83
19		Epwin Group Plc Ordinary 10p	1.80
20		Moss Bros Group Plc Ordinary 5p	1.71