Unitil (UTL) 10-Q 2015 Q1 Quarterly report

EXHIBIT 11

UNITIL CORPORATION AND SUBSIDIARY COMPANIES

COMPUTATION OF EARNINGS PER AVERAGE COMMON SHARE OUTSTANDING

($ Millions, except for per share data)

(UNAUDITED)

	Three Months Ended March 31,
	2015		2014
Net Income	$	13.6	$	12.6
Less: Dividend Requirements on Preferred Stock		—		—
Net Income Applicable to Common Stock	$	13.6	$	12.6
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		13,893		13,819
Dilutive Effect of Stock Options and Restricted Stock (000’s)		4		3
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		13,897		13,822
Earnings Per Share – Basic	$	0.98	$	0.91
Earnings Per Share – Diluted	$	0.98	$	0.91