Exhibit 11.1

UNITIL CORPORATION

COMPUTATION IN SUPPORT OF EARNINGS PER SHARE

	Year Ended December 31,
	2013		2012		2011
EARNINGS PER SHARE (000’s, except per share data)
Net Income	$	21,629	$	18,196	$	16,439
Less: Dividend Requirements on Preferred Stock		14		102		131
Net Income Applicable to Common Stock	$	21,615	$	18,094	$	16,308
Average Number of Common Shares Outstanding—Basic		13,773		12,669		10,880
Dilutive Effect of Stock Options and Restricted Stock		2		3		3
Average Number of Common Shares Outstanding—Diluted		13,775		12,672		10,883
Earnings Per Share—Basic	$	1.57	$	1.43	$	1.50
Earnings Per Share—Diluted	$	1.57	$	1.43	$	1.50