Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 08/01/2016) of £46.19m
Net Assets (including unaudited revenue reserves at 08/01/2016) of £35.85m
The Net Asset Value (NAV) at 08/01/2016 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		216.62p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		212.41p
Ordinary share price		192.50p
Discount to NAV		(11.14)%
Ordinary shares have an undated life
ZDP share		121.66p	8,500,000
ZDP share price		126.75p
Premium to NAV		4.19%
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 08/01/2016

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.24
2	Connect Group Plc Ordinary 5p	2.51
3	Alumasc Group (The) Plc Ordinary 12.5p	2.46
4	Coral Products Plc Ordinary 1p	2.31
5	Clarke (T.) Plc Ordinary 10p	2.30
6	Marston's Plc Ordinary 7.375p	2.17
7	Town Centre Securities Plc REIT 25p	2.15
8	Moss Bros Group Plc Ordinary 5p	2.10
9	Kcom Group Plc Ordinary 10p	2.07
10	GVC Holdings Plc Common EUR0.01	2.06
11	Kier Group PLC Ordinary 1p	1.99
12	St.Ives Plc Ordinary 10p	1.93
13	Jarvis Securities Plc Ordinary 1p	1.90
14	Braemar Shipping Services Plc GBp 10	1.87
15	Acal Plc Ordinary 5p	1.83
16	Shoe Zone (Holdings) Limited Ordinary 1p	1.82
17	Photo-Me International Plc Ordinary 0.5p	1.79
18	Belvoir Lettings Plc Ordinary	1.78
19	Games Workshop Group Plc Ordinary 5p	1.75
20	Wilmington Plc Ordinary 5p	1.72