Penn Virginia Corporation Declares Dividend on Preferred Depositary Shares

RADNOR, Pa., Dec. 13, 2013 (GLOBE NEWSWIRE) -- The Board of Directors of Penn Virginia Corporation (NYSE:PVA) has declared a regular quarterly cash dividend of $150.00 per share on its 6.00 percent Series A convertible preferred stock. As a result, on January 15, 2014, a dividend of $1.50 per depositary share, each representing a 1/100^th interest in a share of the Series A convertible preferred stock, will be paid to holders of record at the close of business on January 1, 2014.

Penn Virginia Corporation (NYSE:PVA) is an independent oil and gas company engaged primarily in the exploration, development and production of oil, NGLs and natural gas in various domestic onshore regions of the United States, with a primary focus in Texas, and to a lesser extent, the Mid-Continent, Mississippi and the Marcellus Shale in Appalachia. For more information, please visit our website at www.pennvirginia.com.

CONTACT: James W. Dean
         Vice President, Corporate Development
         Ph: (610) 687-7531 Fax: (610) 687-3688
         E-Mail: invest@pennvirginia.com