Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 18/03/2016) of £45.97m
Net Assets (including unaudited revenue reserves at 18/03/2016) of £35.51m
The Net Asset Value (NAV) at 18/03/2016 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		214.58p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		210.42p
Ordinary share price		188.25p
Discount to NAV		(12.27)%
Ordinary shares have an undated life
ZDP share		123.02p	8,500,000
ZDP share price		127.00p
Premium to NAV		3.23%
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 18/03/2016

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.29
2	Coral Products Plc Ordinary 1p	2.89
3	Connect Group Plc Ordinary 5p	2.38
4	Shoe Zone (Holdings) Limited Ordinary 1p	2.27
5	GVC Holdings Plc Common EUR0.01	2.20
6	Games Workshop Group Plc Ordinary 5p	2.19
7	Moss Bros Group Plc Ordinary 5p	2.18
8	Clarke (T.) Plc Ordinary 10p	2.17
9	Alumasc Group (The) Plc Ordinary 12.5p	2.12
10	Marston's Plc Ordinary 7.375p	2.00
11	Town Centre Securities Plc REIT 25p	1.97
12	Kier Group PLC Ordinary 1p	1.97
13	GLI Finance Ltd	1.97
14	Brown (N) Group Ordinary 11.052p	1.97
15	Belvoir Lettings Plc Ordinary	1.96
16	Photo-Me International Plc Ordinary 0.5p	1.93
17	Braemar Shipping Services Plc GBp 10	1.89
18	Kcom Group Plc Ordinary 10p	1.89
19	Jarvis Securities Plc Ordinary 1p	1.83
20	Martin McColl Retail Group Ltd Ordinary 0.1p	1.74