Net Asset Value(s)

Announcement Page
Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 18/09/2015) of £45.49m
Net Assets (including unaudited revenue reserves at 18/09/2015) of £35.33m
The Net Asset Value (NAV) at 18/09/2015 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		213.48p	16550000
Per Ordinary share (bid price) - excluding current period revenue*		208.78p
Ordinary share price		189.50p
Discount to NAV		(11.23)%
Ordinary shares have an undated life
ZDP share		119.50p	8500000
ZDP share price		126.00p
Premium to NAV		5.44%
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 18/09/2015
	Name of company		% of portfolio
1	Avesco Group Plc Ordinary 10p		3.18
2	Alumasc Group (The) Plc Ordinary 12.5p		2.64
3	Clarke (T.) Plc Ordinary 10p		2.49
4	Connect Group Plc Ordinary 5p		2.30
5	Jarvis Securities Plc Ordinary 1p		2.19
6	Kier Group PLC Ordinary 1p		2.14
7	Wilmington Plc Ordinary 5p		2.10
8	Town Centre Securities Plc REIT 25p		2.09
9	Kcom Group Plc Ordinary 10p		1.99
10	Moss Bros Group Plc Ordinary 5p		1.97
11 =	Braemar Shipping Services Plc GBp 10		1.95
11 =	DX Group Plc GBP0.01		1.95
13	Games Workshop Group Plc Ordinary 5p		1.91
14	Marston's Plc Ordinary 7.375p		1.85
15	Acal Plc Ordinary 5p		1.84
16	Stadium Group Plc Ordinary 5p		1.76
17	Photo-Me International Plc Ordinary 0.5p		1.74
18	GVC Holdings Plc Common EUR0.01		1.73
19	Dairy Crest Group Plc Ordinary 25p		1.72
20 =	Coral Products Plc Ordinary 1p		1.66
20 =	Macfarlane Group Plc Ordinary 25p		1.66