Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 31/03/2016) of £45.73m
Net Assets (including unaudited revenue reserves at 31/03/2016) of £35.25m
The Net Asset Value (NAV) at 31/03/2016 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	212.98p	16,550,000
Per Ordinary share (bid price) - excluding current period revenue*	208.61p
Ordinary share price	185.50p
Discount to NAV	(12.90)%
Ordinary shares have an undated life
ZDP share	123.28p	8,500,000
ZDP share price	127.00p
Premium to NAV	3.02%
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 31/03/2016

	Name of company		% of portfolio
1	Avesco Group Plc Ordinary 10p		3.19
2	Coral Products Plc Ordinary 1p		2.90
3	Connect Group Plc Ordinary 5p		2.41
4	Shoe Zone (Holdings) Limited Ordinary 1p		2.26
5	GLI Finance Ltd		2.23
6	GVC Holdings Plc Common EUR0.01		2.21
7	Games Workshop Group Plc Ordinary 5p		2.15
8	Alumasc Group (The) Plc Ordinary 12.5p		2.11
9	Moss Bros Group Plc Ordinary 5p		2.08
10	Marston's Plc Ordinary 7.375p		2.00
11	Kier Group PLC Ordinary 1p		1.97
12	Photo-Me International Plc Ordinary 0.5p		1.95
13	Mucklow (A&J) Group Plc REIT 25p		1.92
14	Belvoir Lettings Plc Ordinary		1.89
15	Braemar Shipping Services Plc GBp 10		1.89
16	Clarke (T.) Plc Ordinary 10p		1.89
17	Kcom Group Plc Ordinary 10p		1.89
18	Jarvis Securities Plc Ordinary 1p		1.84
19	Martin McColl Retail Group Ltd Ordinary 0.1p		1.80
20	Brown (N) Group Ordinary 11.052p		1.79