Annual report pursuant to Section 13 and 15(d)

SHARE-BASED PAYMENTS (Tables)

v2.4.0.8
SHARE-BASED PAYMENTS (Tables)
12 Months Ended
Sep. 30, 2013
SHARE-BASED PAYMENTS [Abstract]  
Restricted Stock Activity
The transactions for restricted stock for the year ended September 30, 2013 were as follows:

         
Weighted-
 
         
average
 
         
grant-date
 
   
Shares
   
fair value
 
Non-vested at September 30, 2012
    551,389        $32.56  
Granted
    236,500        25.22  
Vested
    (99,226     35.95  
Expired or forfeited
    (47,264     30.75  
Non-vested at September 30, 2013
    641,399        29.46  
Stock Option Activity
The transactions for shares under options for the year ended September 30, 2013 were as follows:

               
Weighted-
       
         
Weighted-
   
average
   
Aggregate
 
         
average
   
remaining
   
intrinsic
 
   
Shares
   
exercise price
   
contractual term
   
value
 
Outstanding, September 30, 2012
    840,282     $ 37.15              
Granted
    -       -              
Exercised
    (38,475 )     25.56              
Expired or forfeited
    (56,983 )     37.10              
Outstanding, September 30, 2013
    744,824       37.76       2.2     $ 240  
Exercisable, September 30, 2013
    413,069       36.94       1.9     $ 472  
Non-vested Options Activity
The transactions for non-vested option shares for the year ended September 30, 2013 were as follows:

         
Weighted-
 
         
average
 
         
grant-date
 
   
Shares
   
fair value
 
Non-vested at September 30, 2012
    355,872     $ 11.35  
Granted
    -       -  
Vested
    -       -  
Expired or forfeited
    (24,117 )     12.16  
Non-vested at September 30, 2013
    331,755       11.29  
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, 2013, 2012 and 2011.

   
2013
   
2012
   
2011
 
Expected volatility
    29.5 %     30.4 %     30.0 %
Dividend yield
    1.2 %     1.0 %     1.0 %
Average risk-free interest rate
    0.6 %     0.9 %     1.2 %
Average expected term (years)
    2.0       2.0       2.0