Annual report pursuant to Section 13 and 15(d)

SHARE-BASED PAYMENTS (Tables)

v2.4.0.6
SHARE-BASED PAYMENTS (Tables)
12 Months Ended
Sep. 30, 2012
SHARE-BASED PAYMENTS [Abstract]  
Restricted Stock Activity
The transactions for restricted stock for the year ended September 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
    (7,931 )     33.69  
Non-vested at September 30, 2012
    551,389       32.56  

Stock Option Activity
The transactions for shares under options for the year ended September 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
    (21,900 )     37.28              
Outstanding, September 30, 2012
    840,282       37.15       3.0     $ -  
Exercisable, September 30, 2012
    484,410       36.00       2.8     $ -  

Non-vested Options Activity
The transactions for non-vested option shares for the year ended September 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
    (11,714 )     12.28  
Non-vested at September 30, 2012
    355,872       11.35  

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 years ended September 30, 2012, 2011 and 2010.

   
2012
   
2011
   
2010
 
Expected volatility
    30.4 %     30.0 %     30.0 %
Dividend yield
    1.0 %     1.0 %     0.8 %
Average risk-free interest rate
    0.9 %     1.2 %     2.3 %
Average expected term (years)
    2.0       2.0       2.2