We present an R-parity conserving model of sneutrino dark matter within a Higgsphilic U(1)' extension of the minimal supersymmetric standard model. In this theory, the mu parameter and light Dirac neutrino masses are generated naturally upon the breaking of the U(1)' gauge symmetry. One of the right-handed sneutrinos is the lightest supersymmetric particle. The leptonic and hadronic decays of another sneutrino, taken to be the next-to-lightest superpartner, allow for a natural fit to the recent results reported by the PAMELA experiment. We perform a detailed calculation of the dark matter relic density in this scenario, and show that the model is consistent with the ATIC and Fermi LAT experiments.