EX-11 4 dex11.htm COMPUTATION IN SUPPORT OF EARNINGS PER AVERAGE COMMON SHARE COMPUTATION IN SUPPORT OF EARNINGS PER AVERAGE COMMON SHARE

EXHIBIT 11.

 

UNITIL CORPORATION AND SUBSIDIARY COMPANIES

 

COMPUTATION OF EARNINGS PER AVERAGE COMMON SHARE OUTSTANDING

(000’s except for per share data)

(UNAUDITED)

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
     2004
    2003
    2004
    2003

(000’s, except per share data)

                            

Net Income

    $ 1,266    $ 1,497    $ 5,676    $ 5,512

Less: Dividend Requirements on Preferred Stock

      59      59      176      177
    
  
  
  

Net Income Applicable to Common Stock

    $ 1,207    $ 1,438    $ 5,500    $ 5,335
    
  
  
  

Average Number of Common Shares Outstanding - Basic

      5,514,611      4,758,295      5,504,582      4,750,203

Dilutive Effect of Stock Options and Restricted Stock

      14,822      25,347      14,798      20,266

Average Number of Common Shares Outstanding - Diluted

      5,529,433      4,783,642      5,519,380      4,770,469

Earnings Per Share - Basic

    $ 0.22    $ 0.30    $ 1.00    $ 1.12

Earnings Per Share - Diluted

    $ 0.22    $ 0.30    $ 1.00    $ 1.12