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Stock Based Compensation (Tables)
 9 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Fair Value Assumptions

The table below outlines the weighted average assumptions that the Company used to calculate the fair value of each option award for the nine months ended March 31, 2018 and 2017.

 

   March 31, 2018   March 31, 2017 
         
Dividend yield   4.60%    3.85% 
Company’s expected volatility   23.97%    29.70% 
Risk-free interest rate   1.95%    1.84% 
Expected term   4.7 yrs    4.6 yrs 
Weighted average fair value per share          
    of options granted during the period  $2.790   $4.640 
Schedule of Stock Option Activity

The following table summarizes stock option activity during the nine months ended March 31, 2018:

 

   Employee Stock Options Plan
         Weighted   
   Number of  Weighted  Average   
   Shares  Average  Remaining  Aggregate
   Subject  Exercise  Contractual  Intrinsic
   To Options  Price  Term  Value
Balance at July 1, 2017   197,800   $24.57    5.86      
Granted   51,715   $21.76    9.54      
Exercised   (9,400)  $21.45    —      
Forfeited or expired   (4,885)  $24.44    —      
Outstanding at March 31, 2018   235,230   $24.08    6.22   $528,162 
Vested or expected to vest at March 31, 2018   221,814   $24.10    6.04   $494,369 
Exercisable at March 31, 2018   145,950   $24.31    4.42   $303,756 

 
Schedule of Changes in Non-Vested Stock Options

The following table summarizes changes in non-vested stock options during the nine months ended March 31, 2018:

 

   Number  Weighted Average
   of Shares  Grant Date Fair
   Subject to Option  Value (per Option)
Non-vested at July 1, 2017   42,900   $4.586 
Granted   51,715   $2.793 
Vested   (1,500)  $4.149 
Forfeited or expired   (3,835)  $3.731 
Non-vested at March 31, 2018   89,280   $3.591