Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 10/07/2015) of £44.82m
Net Assets (including unaudited revenue reserves at 10/07/2015) of £34.77m
The Net Asset Value (NAV) at 10/07/2015 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	210.11p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*	207.48p
Ordinary share price	176.00p
Discount to NAV	(16.23)%
Ordinary shares have an undated life
ZDP share	118.17p	8,500,000
ZDP share price	125.13p
Premium to NAV	5.88%
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 10/07/2015

		Name of company		% of portfolio
1		Avesco Group Plc Ordinary 10p		3.36
2		Clarke (T.) Plc Ordinary 10p		2.55
3		Alumasc Group (The) Plc Ordinary 12.5p		2.34
4		Connect Group Plc Ordinary 5p		2.30
5		Jarvis Securities Plc Ordinary 1p		2.28
6		Kier Group PLC Ordinary 1p		2.27
7		Dairy Crest Group Plc Ordinary 25p		2.16
8		Kcom Group Plc Ordinary 10p		2.15
9		Braemar Shipping Services Plc GBp 10		2.07
10		Town Centre Securities Plc REIT 25p		2.06
11		Wilmington Plc Ordinary 5p		2.02
12		GVC Holdings Plc Common EUR0.01		2.02
13		Acal Plc Ordinary 5p		1.99
14		Marston's Plc Ordinary 7.375p		1.99
15		DX Group Plc GBP0.01		1.93
16		Brown (N) Group Ordinary 11.052p		1.88
17		Intermediate Capital Group Plc Ordinary 20p		1.85
18		Stadium Group Plc Ordinary 5p		1.78
19		Epwin Group Plc Ordinary 10p		1.76
20		Moss Bros Group Plc Ordinary 5p		1.75