Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 23/10/2015) of £46.46m
Net Assets (including unaudited revenue reserves at 23/10/2015) of £36.25m
The Net Asset Value (NAV) at 23/10/2015 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	219.01p	16550000
Per Ordinary share (bid price) - excluding current period revenue*	214.62p
Ordinary share price	190.25p
Discount to NAV	(13.13)%
Ordinary shares have an undated life
ZDP share	120.17p	8500000
ZDP share price	126.50p
Premium to NAV	5.27%
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 23/10/2015

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.69
2	Connect Group Plc Ordinary 5p	2.56
3	Clarke (T.) Plc Ordinary 10p	2.46
4	Alumasc Group (The) Plc Ordinary 12.5p	2.22
5	Town Centre Securities Plc REIT 25p	2.15
6	Moss Bros Group Plc Ordinary 5p	2.15
7	Kier Group PLC Ordinary 1p	2.13
8	DX Group Plc GBP0.01	2.09
9	Brown (N) Group Ordinary 11.052p	2.08
10	Jarvis Securities Plc Ordinary 1p	2.08
11	Belvoir Lettings Plc Ordinary	2.05
12	Wilmington Plc Ordinary 5p	2.03
13	Marston's Plc Ordinary 7.375p	1.92
14	Braemar Shipping Services Plc GBp 10	1.90
15	Kcom Group Plc Ordinary 10p	1.86
16	Coral Products Plc Ordinary 1p	1.84
17	Games Workshop Group Plc Ordinary 5p	1.80
18	Hansard Global Plc Ordinary 0.5p	1.79
19	GVC Holdings Plc Common EUR0.01	1.71
20	Stadium Group Plc Ordinary 5p	1.67