Annual report pursuant to Section 13 and 15(d)

SHARE-BASED PAYMENTS (Tables)

v2.3.0.15
SHARE-BASED PAYMENTS (Tables)
12 Months Ended
Sep. 30, 2011
SHARE-BASED PAYMENTS [Abstract]  
Restricted Stock Activity
The transactions for restricted stock for the year ended September 30, 2011 were as follows:

       
Weighted-
 
       
average
 
       
grant-date
 
   
Shares
 
fair value
 
Non-vested at September 30, 2010
 
437,442  
 
$36.06
 
Granted
 
199,960  
 
30.79
 
Vested
 
(92,526) 
 
39.02
 
Expired or forfeited
 
(3,263) 
 
34.02
 
Non-vested at September 30, 2011
 
541,613  
 
33.62
 

Stock Option Activity
The transactions for shares under options for the year ended September 30, 2011 were as follows:

               
Weighted-
       
         
Weighted-
   
average
   
Aggregate
 
         
average
   
remaining
   
intrinsic
 
   
Shares
   
exercise price
   
contractual term
   
value
 
Outstanding, September 30, 2010
    953,326     $ 36.32              
Granted
    -       -              
Exercised
    (62,865 )     26.27              
Expired or forfeited
    (17,947 )     37.44              
Outstanding, September 30, 2011
    872,514       37.02       4.0     $ -  
Exercisable, September 30, 2011
    504,928       35.75       3.7     $ -  

Non-Vested Options Activity
The transactions for non-vested option shares for the year ended September 30, 2011 were as follows:

         
Weighted-
 
         
average
 
         
grant-date
 
   
Shares
   
fair value
 
Non-vested at September 30, 2010
    377,548     $ 11.38  
Granted
    -       -  
Vested
    -       -  
Expired or forfeited
    (9,962 )     11.25  
Non-vested at September 30, 2011
    367,586       11.38  

Assumptions Used in Estimating Fair Value
The following table indicates the assumptions used in estimating fair value of restricted stock for the years ended September 30, 2011, 2010 and 2009.

   
2011
   
2010
   
2009
 
Expected volatility
    30.0 %     30.0 %     27.0 %
Dividend yield
    1.0 %     .8 %     .6 %
Average risk-free interest rate
    1.2 %     2.3 %     2.4 %
Average expected term (years)
    2.0       2.2       2.3