Quarterly report pursuant to Section 13 or 15(d)

Share-Based Payments (Tables)

v3.2.0.727
Share-Based Payments (Tables)
9 Months Ended
Jun. 30, 2015
Share-Based Payments [Abstract]  
Restricted stock activity
The transactions for restricted stock for the nine months ended June 30, 2015 were as follows:

       
Weighted-
 
       
average
 
       
grant-date
 
   
Shares
   
fair value
 
Non-vested at September 30, 2014
   
575,150
   
$
33.83
 
Granted
   
215,370
     
40.07
 
Vested
   
(158,992
)
   
34.42
 
Expired or forfeited
   
(36,294
)
   
28.53
 
Non-vested at June 30, 2015
   
595,234
     
36.26
 
Stock option activity
The transactions for shares under options for the nine months ended June 30, 2015 were as follows:

           
Weighted-
     
       
Weighted-
   
average
   
Aggregate
 
       
average
   
remaining
   
intrinsic
 
   
Shares
   
exercise price
   
contractual term
   
value
 
Outstanding, September 30, 2014
   
512,322
   
 
$38.62
         
Exercised
   
(102,544
)
   
38.10
         
Expired or forfeited
   
(69,173
)
   
36.53
         
Outstanding, June 30, 2015
   
340,605
     
39.20
     
1.0
   
 
$4,747
 
Exercisable, June 30, 2015
   
97,000
     
38.78
     
0.8
     
1,392
 
Non-vested options activity
The transactions for non-vested options for the nine months ended June 30, 2015 were as follows:

       
Weighted-average
 
       
grant-date
 
   
Shares
   
fair value
 
Non-vested at September 30, 2014
   
312,442
   
 
$11.21
 
Expired or forfeited
   
(68,837
)
   
11.70
 
Non-vested at June 30, 2015
   
243,605
     
11.07
 
Assumptions used in estimating fair value
The following table indicates the assumptions used in estimating fair value of restricted stock for the nine months ended June 30, 2015 and 2014.

   
Nine Months Ended June 30,
 
   
2015
   
2014
 
Expected volatility
   
22.2
%
   
26.6
%
Dividend yield
   
1.0
%
   
1.1
%
Average risk-free interest rate
   
1.7
%
   
1.4
%
Average expected term (years)
   
1.8
     
2.0