Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 21/08/2015) of £45.1m
Net Assets (including unaudited revenue reserves at 21/08/2015) of £34.99m
The Net Asset Value (NAV) at 21/08/2015 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	211.4p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*	207.53p
Ordinary share price	179.25p
Discount to NAV	(15.21)%
Ordinary shares have an undated life
ZDP share	118.97p	8,500,000
ZDP share price	125.25p
Premium to NAV	5.28%
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 21/08/2015

		Name of company	% of portfolio
1		Avesco Group Plc Ordinary 10p	3.24
2		Clarke (T.) Plc Ordinary 10p	2.48
3		Connect Group Plc Ordinary 5p	2.44
4		Jarvis Securities Plc Ordinary 1p	2.31
5		Alumasc Group (The) Plc Ordinary 12.5p	2.29
6		Kier Group PLC Ordinary 1p	2.25
7		Stadium Group Plc Ordinary 5p	2.15
8		Kcom Group Plc Ordinary 10p	2.01
8		Town Centre Securities Plc REIT 25p	2.01
10		Wilmington Plc Ordinary 5p	2.00
11		Braemar Shipping Services Plc GBp 10	1.99
12		Acal Plc Ordinary 5p	1.98
13		Dairy Crest Group Plc Ordinary 25p	1.96
14		GVC Holdings Plc Common EUR0.01	1.90
15		Games Workshop Group Plc Ordinary 5p	1.87
16		DX Group Plc GBP0.01	1.86
17		Marston's Plc Ordinary 7.375p	1.85
18		Macfarlane Group Plc Ordinary 25p	1.84
19		Belvoir Lettings Plc Ordinary	1.72
20		Photo-Me International Plc Ordinary 0.5p	1.71