Unitil (UTL) 10-K 2015 FY Annual report

Exhibit 11.1

UNITIL CORPORATION

COMPUTATION IN SUPPORT OF EARNINGS PER SHARE

	Year Ended December 31,
	2015		2014		2013
EARNINGS PER SHARE (000’s, except per share data)
Net Income	$	26,264	$	24,758	$	21,629
Less: Dividend Requirements on Preferred Stock		12		14		14
Net Income Applicable to Common Stock	$	26,252	$	24,744	$	21,615
Average Number of Common Shares Outstanding—Basic		13,917		13,843		13,773
Dilutive Effect of Stock Options and Restricted Stock		3		4		2
Average Number of Common Shares Outstanding—Diluted		13,920		13,847		13,775
Earnings Per Share—Basic	$	1.89	$	1.79	$	1.57
Earnings Per Share—Diluted	$	1.89	$	1.79	$	1.57