Net Asset Value(s)

Small Companies Dividend Trust PLC
The Company announces:
Total Assets (including unaudited revenue reserves at 31/07/2015) of £45.55m
Net Assets (including unaudited revenue reserves at 31/07/2015) of £35.47m
The Net Asset Value (NAV) at 31/07/2015 was:
						Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*			214.31p			16,550,000
Per Ordinary share (bid price) - excluding current period revenue*			210.72p
Ordinary share price			180.00p
Discount to NAV			(16.01)%
Ordinary shares have an undated life
ZDP share			118.57p			8,500,000
ZDP share price			125.13p
Premium to NAV			5.53%
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 31/07/2015
	Name of company			% of portfolio
1	Avesco Group Plc Ordinary 10p			3.27
2	Clarke (T.) Plc Ordinary 10p			2.63
3	Jarvis Securities Plc Ordinary 1p			2.36
4	Connect Group Plc Ordinary 5p			2.31
5	Alumasc Group (The) Plc Ordinary 12.5p			2.30
6	Dairy Crest Group Plc Ordinary 25p			2.27
7	Kier Group PLC Ordinary 1p			2.26
8	Kcom Group Plc Ordinary 10p			2.12
9	Braemar Shipping Services Plc GBp 10			2.11
10	Wilmington Plc Ordinary 5p			2.04
11	Town Centre Securities Plc REIT 25p			2.03
12	Acal Plc Ordinary 5p			2.00
13	Marston's Plc Ordinary 7.375p			1.92
14	DX Group Plc GBP0.01			1.90
15	Games Workshop Group Plc Ordinary 5p			1.89
16	Stadium Group Plc Ordinary 5p			1.86
17	GVC Holdings Plc Common EUR0.01			1.85
18	Epwin Group Plc Ordinary 10p			1.84
19	Brown (N) Group Ordinary 11.052p			1.79
20	Macfarlane Group Plc Ordinary 25p			1.74