SMALL COMPANIES DIVIDEND TRUST PLC - Net Asset Value(s)

Small Companies Dividend Trust PLC

The Company announces:

Total Assets (including unaudited revenue reserves at 13/03/2015) of £42.06m

Net Assets (including unaudited revenue reserves at 13/03/2015) of £32.21m



The Net Asset Value (NAV) at 13/03/2015 was:

                                                                        Number of
                                                                        shares in
                                                                           issue:

Per Ordinary share (bid price) - including
unaudited current period revenue*                    194.6p         16,550,000.00

Per Ordinary share (bid price) - excluding current
period revenue*                                     190.32p

Ordinary share price                                169.00p

Discount to NAV                                    (13.16)%

Ordinary shares have an undated life



ZDP share                                           115.95p          8,500,000.00

ZDP share price                                     126.50p

Premium to NAV                                        9.10%

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 13/03/2015






                                           percentage of
         Name of company                       portfolio


1        Acal Plc Ordinary 5p                       2.58

         Alumasc Group (The) Plc Ordinary
2        12.5p                                      2.46


3        Clarke (T.) Plc Ordinary 10p               2.45


4        Connect Group Plc Ordinary 5p              2.44


5        Stadium Group Plc Ordinary 5p              2.31


6        Kcom Group Plc Ordinary 10p                2.23


7        GVC Holdings Plc Common EUR0.01            2.18


8        Avesco Group Plc Ordinary 10p              2.10


9        Town Centre Securities Plc REIT 25p        2.09


10       Marston's Plc Ordinary 7.375p              2.00


11       Wilmington Plc Ordinary 5p                 1.95

         Shoe Zone (Holdings) Limited
12       Ordinary 1p                                1.89


13       Personal Group Holdings Plc                1.83
         Ordinary 5p

14       Braemar Shipping Services Plc GBp 10       1.81


15       Macfarlane Group Plc Ordinary 25p          1.79


16       Photo-Me International Plc                 1.77
         Ordinary 0.5p

17       Intermediate Capital Group Plc             1.73
         Ordinary 20p

18       St.Ives Plc Ordinary 10p                   1.71


19       Chesnara Plc Ordinary 5p                   1.67


20       Dairy Crest Group Plc Ordinary 25p         1.66