Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 31/08/2015) of £45.14m
Net Assets (including unaudited revenue reserves at 31/08/2015) of £35.01m
The Net Asset Value (NAV) at 31/08/2015 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		211.54p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		207.54p
Ordinary share price		190.75p
Discount to NAV		(9.83)%
Ordinary shares have an undated life
ZDP share		119.16p	8,500,000
ZDP share price		124.75p
Premium to NAV		4.69%
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 31/08/2015

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.37
2	Clarke (T.) Plc Ordinary 10p	2.43
3	Connect Group Plc Ordinary 5p	2.41
4	Kier Group PLC Ordinary 1p	2.35
5	Jarvis Securities Plc Ordinary 1p	2.27
6	Alumasc Group (The) Plc Ordinary 12.5p	2.25
7	Stadium Group Plc Ordinary 5p	2.20
8	Kcom Group Plc Ordinary 10p	2.09
9	Braemar Shipping Services Plc GBp 10	2.02
10	Wilmington Plc Ordinary 5p	2.00
11	Town Centre Securities Plc REIT 25p	1.99
12	GVC Holdings Plc Common EUR0.01	1.99
13	Dairy Crest Group Plc Ordinary 25p	1.96
14	Acal Plc Ordinary 5p	1.95
15	Games Workshop Group Plc Ordinary 5p	1.87
16	Marston's Plc Ordinary 7.375p	1.86
17	DX Group Plc GBP0.01	1.78
18	Hansard Global Plc Ordinary 0.5p	1.72
19	Belvoir Lettings Plc Ordinary	1.71
20	Brown (N) Group Ordinary 11.052p	1.68