Quarterly report pursuant to Section 13 or 15(d)

Share Based Payments (Tables)

v2.4.0.6
Share Based Payments (Tables)
9 Months Ended
Jun. 30, 2012
Share-Based Payments [Abstract]  
Restricted Stock Activity
The transactions for restricted stock for the nine months ended June 30, 2012 were as follows:

         
Weighted-
 
         
average
 
         
grant-date
 
   
Shares
   
fair value
 
Non-vested at September 30, 2011
    541,613     $ 33.62  
Granted
    165,710       31.79  
Vested
    (148,003     35.52  
Expired or forfeited
    (938     34.16  
Non-vested at June 30, 2012
    558,382       32.58  

Stock Option Activity
The transactions for shares under options for the nine months ended June 30, 2012 were as follows:

               
Weighted-
       
         
Weighted-
   
average
   
Aggregate
 
         
average
   
remaining
   
intrinsic
 
   
Shares
   
exercise price
   
contractual term
   
value
 
Outstanding, September 30, 2011
    872,514     $ 37.02              
Granted
    -       -              
Exercised
    (10,332 )     25.64              
Expired or forfeited
    (11,700 )     39.68              
Outstanding, June 30, 2012
    850,482       37.12       3.3       -  
Exercisable, June 30, 2012
    491,595       35.96       3.0       -  

Non-vested Options Activity
The transactions for non-vested options for the nine months ended June 30, 2012 were as follows:

         
Weighted-average
 
         
grant-date
 
   
Shares
   
fair value
 
Non-vested at September 30, 2011
    367,586     $ 11.38  
Granted
    -       -  
Vested
    -       -  
Expired or forfeited
    (8,699 )     12.28  
Non-vested at June 30, 2012
    358,887       11.36  

Assumptions Used in Estimating Fair Value
The fair value of each restricted stock grant is estimated on the date of grant using a binomial lattice valuation model.  The following table indicates the assumptions used in estimating fair value of restricted stock for the nine months ended June 30, 2012 and 2011.

   
Nine Months Ended June 30,
 
   
2012
   
2011
 
Expected volatility
    30.4 %     30.0 %
Dividend yield
    1.0 %     1.0 %
Average risk free interest rate
    0.9 %     1.2 %
Average expected term (years)
    2.0       2.0