Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 12/02/2016) of £43.59m
Net Assets (including unaudited revenue reserves at 12/02/2016) of £33.19m
The Net Asset Value (NAV) at 12/02/2016 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		200.57p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		195.96p
Ordinary share price		180.00p
Discount to NAV		(10.26)%
Ordinary shares have an undated life
ZDP share		122.34p	8,500,000
ZDP share price		127.00p
Premium to NAV		3.81%
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 12/02/2016

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.27
2	Alumasc Group (The) Plc Ordinary 12.5p	2.54
3	Coral Products Plc Ordinary 1p	2.42
4	Games Workshop Group Plc Ordinary 5p	2.37
5	Shoe Zone (Holdings) Limited Ordinary 1p	2.30
6	Clarke (T.) Plc Ordinary 10p	2.27
7	Moss Bros Group Plc Ordinary 5p	2.26
8	Connect Group Plc Ordinary 5p	2.09
9	Marston's Plc Ordinary 7.375p	2.09
10	Town Centre Securities Plc REIT 25p	2.07
11	GVC Holdings Plc Common EUR0.01	2.05
12	Kier Group PLC Ordinary 1p	2.01
13	Kcom Group Plc Ordinary 10p	1.98
14	Braemar Shipping Services Plc GBp 10	1.95
15	Belvoir Lettings Plc Ordinary	1.90
16	Jarvis Securities Plc Ordinary 1p	1.87
17	Brown (N) Group Ordinary 11.052p	1.84
18	Hansard Global Plc Ordinary 0.5p	1.74
19	Acal Plc Ordinary 5p	1.70
20	Photo-Me International Plc Ordinary 0.5p	1.70