Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 31/12/2015) of £46.6m
Net Assets (including unaudited revenue reserves at 31/12/2015) of £36.27m
The Net Asset Value (NAV) at 31/12/2015 was:
			Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*		219.16p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*		214.95p
Ordinary share price		197.75p
Discount to NAV		(9.77)%
Ordinary shares have an undated life
ZDP share		121.50p	8,500,000
ZDP share price		126.75p
Premium to NAV		4.32%
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 31/12/2015

	Name of company	% of portfolio
1	Avesco Group Plc Ordinary 10p	3.24
2	Connect Group Plc Ordinary 5p	2.55
3	Clarke (T.) Plc Ordinary 10p	2.51
4	Alumasc Group (The) Plc Ordinary 12.5p	2.35
5	St.Ives Plc Ordinary 10p	2.18
6	Moss Bros Group Plc Ordinary 5p	2.16
7	Marston's Plc Ordinary 7.375p	2.16
8	Town Centre Securities Plc REIT 25p	2.11
9	Kier Group PLC Ordinary 1p	2.10
10	Coral Products Plc Ordinary 1p	2.06
11	GVC Holdings Plc Common EUR0.01	2.00
12	Kcom Group Plc Ordinary 10p	1.99
13	Jarvis Securities Plc Ordinary 1p	1.95
14	Games Workshop Group Plc Ordinary 5p	1.90
15	Braemar Shipping Services Plc GBp 10	1.87
16	Belvoir Lettings Plc Ordinary	1.85
16	Shoe Zone (Holdings) Limited Ordinary 1p	1.85
18	Personal Group Holdings Plc Ordinary 5p	1.85
19	Acal Plc Ordinary 5p	1.79
20	Wilmington Plc Ordinary 5p	1.71