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,
	2017		2016
Net Income	$	12.4	$	10.9
Less: Dividend Requirements on Preferred Stock		—		—
Net Income Applicable to Common Stock	$	12.4	$	10.9
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		14,042		13,968
Dilutive Effect of Stock Options and Restricted Stock (000’s)		6		5
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		14,048		13,973
Earnings Per Share – Basic	$	0.88	$	0.78
Earnings Per Share – Diluted	$	0.88	$	0.78