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UPDATE: Franco-Nevada Jumps 3% - Q3 Beats, Lifts Dividend, Agrees to Buy Weyburn Net Royalty Interest

Franco-Nevada Corporation (FNV.TO) reported $0.31 earnings per share ( EPS ) for the third quarter, beating the consensus estimate by $0.01.

It declared an increased monthly dividend of $0.06 per share for each of January, February and March 2013, representing a 20% increase.

FNV also announced that it has entered into a purchase and sale agreement with Penn West (PWT.TO) - which is restructuring, selling assets, this week lost four exectives and is trading at year lows - to acquire an approximate 11.7% net royalty interest in the Weyburn Oil Unit For C$400 million in cash, prior to normal closing adjustments.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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