<PAGE>
EXHIBIT 11
AEP INDUSTRIES INC.
COMPUTATION OF THE WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
FOR THE THREE AND SIX MONTHS ENDED APRIL 30, 2000
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<CAPTION>
FOR THE THREE MONTHS ENDED APRIL 30,
------------------------------------------
WEIGHTED AVERAGE
NUMBER OF NUMBER OF
SHARES OF DAYS DAYS IN SHARES
2000 COMMON STOCK OUTSTANDING PERIOD OUTSTANDING
---- -------------- ----------- --------- ----------------
<S> <C> <C> <C> <C>
November 1--October 31..... 7,397,413 7,397,413
Shares Issued:
November 8, 1999........... 90,200 90 90 90,200
November 8, 1999........... (49,552) 90 90 (49,552)
November 11, 1999.......... 3,000 90 90 3,000
November 19, 1999.......... 600 90 90 600
November 23, 1999.......... 200 90 90 200
December 7, 1999........... 300 90 90 300
December 29, 1999.......... 3,200 90 90 3,200
January 3, 2000............ 8,451 90 90 8,451
January 28, 2000........... 17,400 90 90 17,400
January 28, 2000........... (7,708) 90 90 (7,708)
February 4, 2000........... 1,340 87 90 1,295
February 4, 2000........... (493) 87 90 (477)
February 9, 2000........... 1,000 82 90 911
February 10, 2000.......... 2,750 81 90 2,475
February 16, 2000.......... 1,800 75 90 1,500
February 25, 2000.......... 30,224 66 90 22,164
March 23, 2000............. 1,000 39 90 433
March 27, 2000............. 3,000 35 90 1,167
April 6, 2000.............. 3,000 25 90 833
April 10, 2000............. 300 21 90 70
April 13, 2000............. 200 18 90 40
April 25, 2000............. 200 6 90 13
--------- ---------
Total Weighted Average
Shares................. 7,507,825 7,493,930
Total Dilutive Stock
options................ 101,368
--------- ---------
Total Shares........... 7,507,825 7,595,298
========= =========
1999
---------------------------
November 1--October 31..... 7,277,701 7,277,701
Shares Issued:
November 4, 1998........... 400 89 89 400
November 18, 1998.......... 1,800 89 89 1,800
January 4, 1999............ 10,187 89 89 10,187
January 29, 1999........... 600 89 89 600
March 5, 1999.............. 1,800 57 89 1,153
April 19, 1999............. 900 12 89 121
April 23, 1999............. 1,400 8 89 126
April 27, 1999............. 200 4 89 9
April 28, 1999............. 48,420 3 89 1,632
April 29, 1999............. 200 2 89 4
April 29, 1999............. 400 2 89 9
--------- ---------
Total Weighted Average
Shares................. 7,344,008 7,293,743
Total Dilutive Stock
options................ -- 157,658
--------- ---------
Total Shares........... 7,344,008 7,451,401
========= =========
<CAPTION>
FOR THE SIX MONTHS ENDED APRIL 30,
------------------------------------------
WEIGHTED AVERAGE
NUMBER OF NUMBER OF
DAYS DAYS IN SHARES
2000 OUTSTANDING PERIOD OUTSTANDING
---- ----------- --------- ----------------
<S> <C> <C> <C>
November 1--October 31..... 7,397,413
Shares Issued:
November 8, 1999........... 175 182 86,731
November 8, 1999........... 175 182 (47,646)
November 11, 1999.......... 172 182 2,835
November 19, 1999.......... 164 182 541
November 23, 1999.......... 160 182 176
December 7, 1999........... 146 182 241
December 29, 1999.......... 124 182 2,180
January 3, 2000............ 119 182 5,526
January 28, 2000........... 94 182 8,987
January 28, 2000........... 94 182 (3,981)
February 4, 2000........... 87 182 619
February 4, 2000........... 87 182 (228)
February 9, 2000........... 82 182 411
February 10, 2000.......... 81 182 1,102
February 16, 2000.......... 75 182 618
February 25, 2000.......... 66 182 8,038
March 23, 2000............. 39 182 93
March 27, 2000............. 35 182 224
April 6, 2000.............. 25 182 114
April 10, 2000............. 21 182 8
April 13, 2000............. 18 182 4
April 25, 2000............. 6 182 0
---------
Total Weighted Average
Shares................. 7,464,005
Total Dilutive Stock
options................ 89,991
---------
Total Shares........... 7,553,996
=========
1999
---------------------------
November 1--October 31..... 7,277,701
Shares Issued:
November 4, 1998........... 178 181 393
November 18, 1998.......... 164 181 1,631
January 4, 1999............ 117 181 6,585
January 29, 1999........... 92 181 305
March 5, 1999.............. 57 181 363
April 19, 1999............. 12 181 8
April 23, 1999............. 8 181 6
April 27, 1999............. 4 181 0
April 28, 1999............. 3 181 27
April 29, 1999............. 2 181 0
April 29, 1999............. 2 181 0
---------
Total Weighted Average
Shares................. 7,287,019
Total Dilutive Stock
options................ 157,658
---------
Total Shares........... 7,444,677
=========
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