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,
	2022		2021
Net Income	$	21.5	$	18.9
Less: Dividend Requirements on Preferred Stock		—		—
Net Income Applicable to Common Stock	$	21.5	$	18.9
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		15,972		14,994
Dilutive Effect of Stock Options and Restricted Stock (000’s)		4		2
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		15,976		14,996
Earnings Per Share – Basic	$	1.35	$	1.26
Earnings Per Share – Diluted	$	1.35	$	1.26