XML 31 R20.htm IDEA: XBRL DOCUMENT v3.8.0.1
Subsequent Events
9 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Event

On April 26, 2018, the Corporation announced that the Corporation’s Board of Directors declared a quarterly cash dividend of $0.14 per share.  Shareholders of the Corporation’s common stock at the close of business on May 17, 2018 will be entitled to receive the cash dividend.  The cash dividend will be payable on June 7, 2018.

On April 26, 2018, 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 373,000 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 2018 stock repurchase plan will become effective once the Corporation has completed the June 2017 stock repurchase plan by purchasing the remaining 40,993 shares available as of March 31, 2018 under the June 2017 plan.