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Share based compensation (Tables)
 6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Assumptions Used in Estimation of Grant Date Fair Value of Options
The Company recognizes compensation expenses on these options based on estimated grant date fair value using the Binomial option-pricing model with the following assumptions:
 
Average Risk-free interest rate (a)
1.58%
Expected dividend yield
2.42%
Average expected volatility  (b)
47.9%
Termination rate
9%
Suboptimal rate (c)
3.32%
 
(a)
Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.
(b)
Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.
(c)
Suboptimal rate represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal rate of the Company and similar companies.