Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 24/07/2015) of £45.32m
Net Assets (including unaudited revenue reserves at 24/07/2015) of £35.26m
The Net Asset Value (NAV) at 24/07/2015 was:
					Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*				213.03p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*				209.49p
Ordinary share price				181.25p
Discount to NAV				(14.92)%
Ordinary shares have an undated life
ZDP share				118.44p	8,500,000
ZDP share price				125.13p
Premium to NAV				5.65%
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 24/07/2015
		Name of company				% of portfolio
1		Avesco Group Plc Ordinary 10p				3.33
2		Clarke (T.) Plc Ordinary 10p				2.54
3		Jarvis Securities Plc Ordinary 1p				2.44
4		Alumasc Group (The) Plc Ordinary 12.5p				2.28
5		Connect Group Plc Ordinary 5p				2.24
6		Kier Group PLC Ordinary 1p				2.22
7		Dairy Crest Group Plc Ordinary 25p				2.21
8		Braemar Shipping Services Plc GBp 10				2.17
9		Kcom Group Plc Ordinary 10p				2.16
10		Town Centre Securities Plc REIT 25p				2.05
11		Wilmington Plc Ordinary 5p				2.04
12		Acal Plc Ordinary 5p				2.02
13		GVC Holdings Plc Common EUR0.01				1.91
14		Marston's Plc Ordinary 7.375p				1.90
15		DX Group Plc GBP0.01				1.89
16		Epwin Group Plc Ordinary 10p				1.86
17		Stadium Group Plc Ordinary 5p				1.85
18		Brown (N) Group Ordinary 11.052p				1.84
19		Belvoir Lettings Plc Ordinary				1.72
20		Games Workshop Group Plc Ordinary 5p				1.72