We have \[\dfrac{11^{x}}{11^3}=(11^1)^2=11^2.\]
Because $11^3$ is a nonzero number, we can divide both sides by $11^3$ to obtain
\[\frac{11^x}{11^3}=\frac{11^2}{11^3}.\]
Then we have
\[11^{x-3}=\frac{1}{11}.\]
Because $11^3$ is a nonzero number, we can multiply both sides by $11^3$ to get
\[11^{x-3}\cdot11^3=1.\]
Using the property of exponentiation $a^{m+n}=a^ma^n$ and $a^{-n}=\frac{1}{a^n}$, we have
\[11^{x-3+3}=1^3=1.\]
Thus, we have $11^{x}=1$.
Since $11^0=1$, we have $x=\boxed{0}.$