EXHIBIT 11
CONNECTICUT NATURAL GAS CORPORATION AND SUBSIDIARIES
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COMPUTATION OF CONSOLIDATED PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
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(Thousands of Dollars Except for Shares and Per Share Date)
Fiscal Year Ended September 30,
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1997 1996 1995 1994 1993
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Net income applicable to common stock:
Income $ 17,075 $ 18,995 $ 17,019 $ 17,703 $ 16,855
Less-Preferred stock dividends 62 63 62 66 67
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Net income applicable to common stock $ 17,013 $ 18,932 $ 16,957 $ 17,637 $ 16,788
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Weighted average number of shares of common
stock outstanding during the year (1) 10,632,001 10,146,932 9,926,980 9,539,695 9,527,772
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Net income per share of common stock -
primary and fully diluted (1) $1.60 $1.87 $1.71 $1.85 $1.76
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[FN]
NOTE:
(1) The Company has no common stock equivalents. Therefore, no
adjustments to the weighted average number of shares of common
stock outstanding during any of the years reflected in this
exhibit are necessary in order to calculate either primary or
fully diluted earnings per share. For this reason primary and
fully diluted earnings per share are the same in each year.