Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 27/11/2015) of £46.3m
Net Assets (including unaudited revenue reserves at 27/11/2015) of £36.03m
The Net Asset Value (NAV) at 27/11/2015 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	217.69p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*	212.56p
Ordinary share price	190.00p
Discount to NAV	(12.72)%
Ordinary shares have an undated life
ZDP share	120.84p	8,500,000
ZDP share price	126.50p
Premium to NAV	4.68%
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 27/11/2015

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.14
2	Clarke (T.) Plc Ordinary 10p	2.64
3	Connect Group Plc Ordinary 5p	2.51
4	Alumasc Group (The) Plc Ordinary 12.5p	2.29
5	Marston's Plc Ordinary 7.375p	2.24
6	Moss Bros Group Plc Ordinary 5p	2.19
7	Town Centre Securities Plc REIT 25p	2.11
8	St.Ives Plc Ordinary 10p	2.09
9	Kcom Group Plc Ordinary 10p	2.08
10	Coral Products Plc Ordinary 1p	2.08
11	Wilmington Plc Ordinary 5p	2.05
12	Kier Group PLC Ordinary 1p	2.02
13	Jarvis Securities Plc Ordinary 1p	2.01
14	Belvoir Lettings Plc Ordinary	1.95
15	Games Workshop Group Plc Ordinary 5p	1.95
16	Brown (N) Group Ordinary 11.052p	1.91
17	Braemar Shipping Services Plc GBp 10	1.88
18	Shoe Zone (Holdings) Limited Ordinary 1p	1.79
19	Personal Group Holdings Plc Ordinary 5p	1.78
20	Acal Plc Ordinary 5p	1.77