Penn Virginia Resource Partners L.P. (PVR) Tops Q3 EPS by 8c, Raises Dividend

Penn Virginia Resource Partners L.P. (NYSE: PVR) reported Q3 EPS of $0.50, $0.08 better than the analyst estimate of $0.42. Revenue for the quarter came in at $308.35 million versus the consensus estimate of $306.1 million.

The company sees full year 2011 EBITDA in the range of $240 million to $250 million and full year 2011 distributable cash flow in the range of $135 million to $145 million.

The Board of Directors of Penn Virginia Resource GP, LLC, the general partner of PVR, declared a quarterly cash distribution of $0.50 per unit payable on November 14, 2011 to unitholders of record as of November 7, 2011. This distribution equates to an annualized rate of $2.00 per unit, and represents a 2.0% increase over the prior quarter distribution and a 6.4% increase over the third quarter of 2010.

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