Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 16/10/2015) of £46.02m
Net Assets (including unaudited revenue reserves at 16/10/2015) of £35.82m
The Net Asset Value (NAV) at 16/10/2015 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		216.42p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		212.11p
Ordinary share price		189.00p
Discount to NAV		(12.67)%
Ordinary shares have an undated life
ZDP share		120.04p	8,500,000
ZDP share price		126.50p
Premium to NAV		5.38%
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 16/10/2015

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.58
2	Alumasc Group (The) Plc Ordinary 12.5p	2.91
3	Connect Group Plc Ordinary 5p	2.57
4	Clarke (T.) Plc Ordinary 10p	2.47
5	Moss Bros Group Plc Ordinary 5p	2.14
6	Town Centre Securities Plc REIT 25p	2.12
7	DX Group Plc GBP0.01	2.10
8	Kier Group PLC Ordinary 1p	2.09
9	Wilmington Plc Ordinary 5p	2.08
10	Jarvis Securities Plc Ordinary 1p	2.07
11	Belvoir Lettings Plc Ordinary	2.04
12	Brown (N) Group Ordinary 11.052p	1.94
13	Kcom Group Plc Ordinary 10p	1.90
14	Braemar Shipping Services Plc GBp 10	1.88
15	Marston's Plc Ordinary 7.375p	1.88
16	Games Workshop Group Plc Ordinary 5p	1.81
17	Photo-Me International Plc Ordinary 0.5p	1.74
18	Hansard Global Plc Ordinary 0.5p	1.70
19	GVC Holdings Plc Common EUR0.01	1.70
20	Acal Plc Ordinary 5p	1.66