Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 06/05/2016) of £45.54m
Net Assets (including unaudited revenue reserves at 06/05/2016) of £35m
The Net Asset Value (NAV) at 06/05/2016 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		211.49p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		205.3p
Ordinary share price		183.00p
Discount to NAV		(13.47)%
Ordinary shares have an undated life
ZDP share		123.99p	8,500,000
ZDP share price		127.50p
Premium to NAV		2.83%
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 06/05/2016

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.17
2	Coral Products Plc Ordinary 1p	2.98
3	GVC Holdings Plc Common EUR0.01	2.48
4	Belvoir Lettings Plc Ordinary	2.43
5	Connect Group Plc Ordinary 5p	2.42
6	Shoe Zone (Holdings) Limited Ordinary 1p	2.29
7	Moss Bros Group Plc Ordinary 5p	2.19
8	GLI Finance Ltd	2.16
9	Games Workshop Group Plc Ordinary 5p	2.10
10	Mucklow (A&J) Group Plc REIT 25p	2.04
11	Alumasc Group (The) Plc Ordinary 12.5p	2.01
12	Braemar Shipping Services Plc GBp 10	1.99
13	Brown (N) Group Ordinary 11.052p	1.99
14	Marston's Plc Ordinary 7.375p	1.91
15	Clarke (T.) Plc Ordinary 10p	1.89
16	Jarvis Securities Plc Ordinary 1p	1.88
17	Fairpoint Group Plc Ordinary 1p	1.86
18	Kier Group PLC Ordinary 1p	1.83
19	Kcom Group Plc Ordinary 10p	1.82
20	Photo-Me International Plc Ordinary 0.5p	1.74