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Subsequent Events | 9 Months Ended
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Mar. 31, 2015
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On April 28, 2015, the Corporation announced that the Corporation’s Board of Directors declared a quarterly cash dividend of $0.12 per share, reflecting a nine percent increase from the $0.11 per share paid on March 12, 2015. Shareholders of the Corporation’s common stock at the close of business on May 19, 2015 will be entitled to receive the cash dividend. The cash dividend will be payable on June 9, 2015. On April 28, 2015, the Corporation announced that the Corporation’s Board of Directors authorized the repurchase of up to five percent of the Corporation’s common stock, or approximately 430,651 shares. The Corporation will purchase the shares from time to time in the open market or through privately negotiated transactions over a one-year period depending on market conditions, the capital requirements of the Corporation, and available cash that can be allocated to the stock repurchase program, among other considerations. The April 2015 stock repurchase plan will become effective once the Corporation has completed the October 2014 stock repurchase plan by purchasing the remaining 105,899 shares available under the October 2014 plan.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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