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,
	2020		2019
Net Income	$	15.2	$	26.5
Less: Dividend Requirements on Preferred Stock		—		—
Net Income Applicable to Common Stock	$	15.2	$	26.5
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		14,934		14,875
Dilutive Effect of Stock Options and Restricted Stock (000’s)		4		5
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		14,938		14,880
Earnings Per Share – Basic	$	1.02	$	1.78
Earnings Per Share – Diluted	$	1.02	$	1.78