Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 25/03/2016) of £45.61m
Net Assets (including unaudited revenue reserves at 25/03/2016) of £35.14m
The Net Asset Value (NAV) at 25/03/2016 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		212.36p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		207.96p
Ordinary share price		187.50p
Discount to NAV		(11.71)%
Ordinary shares have an undated life
ZDP share		123.16p	8,500,000
ZDP share price		127.00p
Premium to NAV		3.12%
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 25/03/2016

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.20
2	Coral Products Plc Ordinary 1p	3.04
3	Connect Group Plc Ordinary 5p	2.50
4	Shoe Zone (Holdings) Limited Ordinary 1p	2.27
5	GLI Finance Ltd	2.25
6	GVC Holdings Plc Common EUR0.01	2.20
7	Games Workshop Group Plc Ordinary 5p	2.20
8	Moss Bros Group Plc Ordinary 5p	2.12
9	Alumasc Group (The) Plc Ordinary 12.5p	2.12
10	Photo-Me International Plc Ordinary 0.5p	1.99
11	Marston's Plc Ordinary 7.375p	1.97
12	Kier Group PLC Ordinary 1p	1.96
13	Belvoir Lettings Plc Ordinary	1.94
14	Kcom Group Plc Ordinary 10p	1.90
15	Braemar Shipping Services Plc GBp 10	1.89
15	Clarke (T.) Plc Ordinary 10p	1.89
17	Mucklow (A&J) Group Plc REIT 25p	1.88
18	Jarvis Securities Plc Ordinary 1p	1.84
19	Martin McColl Retail Group Ltd Ordinary 0.1p	1.79
20	Brown (N) Group Ordinary 11.052p	1.76