Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 31/10/2015) of £46.33m
Net Assets (including unaudited revenue reserves at 31/10/2015) of £36.1m
The Net Asset Value (NAV) at 31/10/2015 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	218.14p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*	213.43p
Ordinary share price	190.00p
Discount to NAV	(12.90)%
Ordinary shares have an undated life
ZDP share	120.32p	8,500,000
ZDP share price	126.50p
Premium to NAV	5.13%
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 31/10/2015

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.47
2	Connect Group Plc Ordinary 5p	2.54
3	Alumasc Group (The) Plc Ordinary 12.5p	2.49
4	Clarke (T.) Plc Ordinary 10p	2.46
5	Moss Bros Group Plc Ordinary 5p	2.11
6	Kier Group PLC Ordinary 1p	2.09
7	Town Centre Securities Plc REIT 25p	2.09
8	Jarvis Securities Plc Ordinary 1p	2.06
9	DX Group Plc GBP0.01	2.06
10	Wilmington Plc Ordinary 5p	2.05
11	Braemar Shipping Services Plc GBp 10	2.04
12	Brown (N) Group Ordinary 11.052p	2.04
13	Belvoir Lettings Plc Ordinary	2.02
14	Marston's Plc Ordinary 7.375p	1.93
15	Kcom Group Plc Ordinary 10p	1.89
16	Games Workshop Group Plc Ordinary 5p	1.79
17	Coral Products Plc Ordinary 1p	1.74
17	Shoe Zone (Holdings) Limited Ordinary 1p	1.74
19	GVC Holdings Plc Common EUR0.01	1.72
20	Photo-Me International Plc Ordinary 0.5p	1.72