Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 11/12/2015) of £46.09m
Net Assets (including unaudited revenue reserves at 11/12/2015) of £35.8m
The Net Asset Value (NAV) at 11/12/2015 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	216.31p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*	212.36p
Ordinary share price	191.25p
Discount to NAV	(11.58)%
Ordinary shares have an undated life
ZDP share	121.11p	8,500,000
ZDP share price	126.50p
Premium to NAV	4.45%
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 11/12/2015

	Name of company		% of portfolio
1	Avesco Group Plc Ordinary 10p		3.31
2	Clarke (T.) Plc Ordinary 10p		2.55
3	Connect Group Plc Ordinary 5p		2.51
4	Alumasc Group (The) Plc Ordinary 12.5p		2.36
5	Kcom Group Plc Ordinary 10p		2.23
6	Moss Bros Group Plc Ordinary 5p		2.18
7	Marston's Plc Ordinary 7.375p		2.17
8	Town Centre Securities Plc REIT 25p		2.10
9	Coral Products Plc Ordinary 1p		2.07
10	St.Ives Plc Ordinary 10p		2.05
11	Shoe Zone (Holdings) Limited Ordinary 1p		2.03
12	Jarvis Securities Plc Ordinary 1p		1.98
13	Kier Group PLC Ordinary 1p		1.97
14	Games Workshop Group Plc Ordinary 5p		1.94
15	Belvoir Lettings Plc Ordinary		1.91
16	Braemar Shipping Services Plc GBp 10		1.84
17	Personal Group Holdings Plc Ordinary 5p		1.81
18	GVC Holdings Plc Common EUR0.01		1.81
19	Acal Plc Ordinary 5p		1.80
20	Numis Corporation Plc Ordinary 5p		1.75