Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 03/07/2015) of £44.73m
Net Assets (including unaudited revenue reserves at 03/07/2015) of £34.7m
The Net Asset Value (NAV) at 03/07/2015 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	209.64p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*	205.25p
Ordinary share price	174.00p
Discount to NAV	(17.00)%
Ordinary shares have an undated life
ZDP share	118.04p	8,500,000
ZDP share price	125.25p
Premium to NAV	6.11%
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 03/07/2015

		Name of company		% of portfolio
1		Avesco Group Plc Ordinary 10p		3.16
2		Clarke (T.) Plc Ordinary 10p		2.51
3		Alumasc Group (The) Plc Ordinary 12.5p		2.39
4		Jarvis Securities Plc Ordinary 1p		2.29
5		Connect Group Plc Ordinary 5p		2.25
6		Kier Group PLC Ordinary 1p		2.24
7		Kcom Group Plc Ordinary 10p		2.13
8		Acal Plc Ordinary 5p		2.12
9		Braemar Shipping Services Plc GBp 10		2.08
10		GVC Holdings Plc Common EUR0.01		2.07
11		Dairy Crest Group Plc Ordinary 25p		2.05
12		Marston's Plc Ordinary 7.375p		2.02
13		Wilmington Plc Ordinary 5p		2.02
14		Town Centre Securities Plc REIT 25p		2.01
15		DX Group Plc GBP0.01		1.95
16		Brown (N) Group Ordinary 11.052p		1.92
17		Intermediate Capital Group Plc Ordinary 20p		1.84
18		Moss Bros Group Plc Ordinary 5p		1.77
18		Stadium Group Plc Ordinary 5p		1.77
20		Epwin Group Plc Ordinary 10p		1.76