Dividend Declaration

SMALL COMPANIES DIVIDEND TRUST PLC

DIVIDEND DECLARATION

The Company has today declared a second interim dividend in respect of the year
1 May 2014 to 30 April 2015.

A second interim dividend of 1.575p per Ordinary share will be paid on
9 January 2015 to the holders of Ordinary shares on the register at 12 December
2014, with an ex-dividend date of 11 December 2014.

It is the Board's intention, over time, to move the dividend profile gradually
to a position where the four interim dividends paid are equal.  This will be
achieved by maintaining the fourth interim dividend at the same level and
increasing the first, second and third dividends in future years to reflect
earnings.

4 December 2014