Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 11/03/2016) of £45.77m
Net Assets (including unaudited revenue reserves at 11/03/2016) of £35.33m
The Net Asset Value (NAV) at 11/03/2016 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	213.46p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*	207.7p
Ordinary share price	187.00p
Discount to NAV	(12.40)%
Ordinary shares have an undated life
ZDP share	122.88p	8,500,000
ZDP share price	127.00p
Premium to NAV	3.35%
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 11/03/2016

	Name of company		% of portfolio
1	Avesco Group Plc Ordinary 10p		3.16
2	Coral Products Plc Ordinary 1p		2.92
3	Connect Group Plc Ordinary 5p		2.36
4	Games Workshop Group Plc Ordinary 5p		2.25
5	Moss Bros Group Plc Ordinary 5p		2.23
6	Clarke (T.) Plc Ordinary 10p		2.18
7	GVC Holdings Plc Common EUR0.01		2.18
8	Shoe Zone (Holdings) Limited Ordinary 1p		2.15
9	Alumasc Group (The) Plc Ordinary 12.5p		2.09
10	Town Centre Securities Plc REIT 25p		2.06
11	Kier Group PLC Ordinary 1p		2.00
12	Kcom Group Plc Ordinary 10p		2.00
13	Marston's Plc Ordinary 7.375p		1.99
14	Belvoir Lettings Plc Ordinary		1.93
15	Brown (N) Group Ordinary 11.052p		1.93
16	GLI Finance Ltd		1.92
17	Photo-Me International Plc Ordinary 0.5p		1.92
18	Jarvis Securities Plc Ordinary 1p		1.85
19	Braemar Shipping Services Plc GBp 10		1.84
20	Martin McColl Retail Group Ltd Ordinary 0.1p		1.67