Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 31/07/2016) of £42.86m
Net Assets (including unaudited revenue reserves at 31/07/2016) of £32.17m
The Net Asset Value (NAV) at 31/07/2016 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		194.41p	16550000
Per Ordinary share (bid price) - excluding current period revenue*		191.11p
Ordinary share price		193.50p
Discount to NAV		(0.47)%
Ordinary shares have an undated life
ZDP share		125.70p	8500000
ZDP share price		131.50p
Premium to NAV		4.61%
ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018

*Current period revenue covers the period 01/05/2015 to 31/07/2016
	Name of company		% of portfolio
1	Belvoir Lettings Plc Ordinary		3.57
2	Avesco Group Plc Ordinary 10p		3.37
3	Coral Products Plc Ordinary 1p		2.82
4	Connect Group Plc Ordinary 5p		2.55
5	GLI Finance Ltd		2.30
6	McColl's Retail Group Plc Ordinary 0.1p		2.28
7	Games Workshop Group Plc Ordinary 5p		2.25
8	Moss Bros Group Plc Ordinary 5p		2.14
9	Shoe Zone (Holdings) Limited Ordinary 1p		2.08
10	Marston's Plc Ordinary 7.375p		2.00
11	Amino Technologies Plc GBp 1		2.00
12	Jarvis Securities Plc Ordinary 1p		1.92
13	Braemar Shipping Services Plc GBp 10		1.90
14	Mucklow (A&J) Group Plc REIT 25p		1.89
15	Hansard Global Plc Ordinary 0.5p		1.88
16	Fairpoint Group Plc Ordinary 1p		1.84
17	Photo-Me International Plc Ordinary 0.5p		1.81
18	Kier Group PLC Ordinary 1p		1.77
19	Alumasc Group (The) Plc Ordinary 12.5p		1.69
20	Acal Plc Ordinary 5p		1.67