SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following is a summary of the status of the 1998 Plan, 2000 plan and 2011 Share Incentive Plan as of December 31, 2015, 2014 and 2013, and changes during the years ended on those dates:

	Years ended December 31
	2015				2014				2013
	Number		Weighted average exercise price		Number		Weighted average exercise price		Number		Weighted average exercise price

Options outstanding at beginning of year		851,600	$	2.63		460,000	$	1.93		588,700	$	1.87
Changes during year:
Granted (a)		116,800	$	1.66		666,000	$	2.81		96,000	$	2.16
Exercised		(92,100)	$	1.85		(225,400)	$	1.88		(103,500)	$	0.70
Forfeited		(166,000)	$	2.88		(49,000)	$	2.03		(36,000)	$	1.94
Expired		-		-		-		-		(85,200)	$	3.24
Options outstanding at end of year		710,300	$	2.51		851,600	$	2.63		460,000	$	1.93

Options exercisable at end of year		51,000	$	1.98		43,600	$	2.00		193,000	$	1.95

Weighted average grant date fair value of options granted during the year (b)				0.94			$	0.51			$	0.41

(a) In the years ended December 31, 2015 and 2014 the options were granted with an exercise price equal to the average closing price per share of the Company’s ordinary shares on the stock market during the 30 trading day period immediately preceding the date of grant of such option or with an exercise price equal to par value of NIS 0.01.

In the year ended December 31, 2013 the options were granted with an exercise price equal to the average closing price per share of the Company ordinary’s shares on the stock market during the 30 trading day period immediately preceding the date of grant of such option.

(b)

The fair value of each stock option granted is computed on the date of grant according to the Black-Scholes option-pricing model with the following assumptions:

	Years ended December 31
	2015			2014			2013

Dividend yield		10	%		11	%		11	%

Expected volatility*		48	%		44	%		49	%

Average risk-free interest rate		1.5	%		1.5	%		0.8	%

Expected average term - in years		3.88			3.88			3.88

Volatility is based on historical volatility of the Company's share price for periods matching the expected term of the option until exercise.

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

The following table summarizes information about options outstanding and exercisable as of December 31, 2015:

		Options Outstanding						Options Exercisable
		Number		Weighted				Number		Weighted
		outstanding		average		Weighted		exercisable		average		Weighted
Range of		at		remaining		average		at		remaining		average
exercise		December 31,		contractual		exercise		December 31,		contractual		exercise
prices		2015		life		price		2015		life		price
				Years						Years

$	0.003 – 1.939		118,800		2.74	$	0.72		44,000		0.85	$	1.94
$	2.16 – 2.947		591,500		3.73	$	2.87		7,000		1.74	$	2.27
			710,300		3.56	$	2.51		51,000		0.97	$	1.98