Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 19/06/2015) of £44.97m
Net Assets (including unaudited revenue reserves at 19/06/2015) of £34.96m
The Net Asset Value (NAV) at 19/06/2015 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		211.24p	16550000
Per Ordinary share (bid price) - excluding current period revenue*		205.38p
Ordinary share price		177.00p
Discount to NAV		(16.21)%
Ordinary shares have an undated life
ZDP share		117.78p	8500000
ZDP share price		125.25p
Premium to NAV		6.34%
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 19/06/2015

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.11
2	Clarke (T.) Plc Ordinary 10p	2.66
3	Jarvis Securities Plc Ordinary 1p	2.47
4	Kier Group PLC Ordinary 1p	2.31
5	Acal Plc Ordinary 5p	2.24
6	Kcom Group Plc Ordinary 10p	2.24
7	Braemar Shipping Services Plc GBp 10	2.19
8	Alumasc Group (The) Plc Ordinary 12.5p	2.19
9	Connect Group Plc Ordinary 5p	2.17
10	Wilmington Plc Ordinary 5p	2.13
11	Dairy Crest Group Plc Ordinary 25p	2.12
12	GVC Holdings Plc Common EUR0.01	2.09
13	Brown (N) Group Ordinary 11.052p	2.07
14	Marston's Plc Ordinary 7.375p	2.07
15	Town Centre Securities Plc REIT 25p	2.04
16	DX Group Plc GBP0.01	1.97
17	Intermediate Capital Group Plc Ordinary 20p	1.95
18	Epwin Group Plc Ordinary 10p	1.78
19	Stadium Group Plc Ordinary 5p	1.77
20	Moss Bros Group Plc Ordinary 5p	1.74