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Earnings Per Common Share (Tables)
 6 Months Ended
Dec. 31, 2015
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The following table sets forth the computation of basic and diluted earnings per common share:
 
Three Months Ended
 
Six Months Ended
 
 
December 31,
 
December 31,
 
 
2015
 
2014
 
2015
 
2014
 
             Numerator - Basic and Diluted ($000)
 
 
 
 
 
 
 
 
              Net income
1,803

 
2,657

 
1,279

 
2,345

 
              Dividends paid
(1,455
)
 
(1,409
)
 
(2,908
)
 
(2,817
)
 
              Undistributed earnings (loss)
348

 
1,248

 
(1,629
)
 
(472
)
 
 
 
 
 
 
 
 
 
 
Allocated to common shares:
 
 
 
 
 
 
 
 
Undistributed earnings (loss) (a)
347

 
1,240

 
(1,629
)
 
(472
)
 
              Dividends paid - common shares
1,449

 
1,401

 
2,896

 
2,802

 
               Earnings allocated to common shares
1,796

 
2,641

 
1,266

 
2,330

 
 
 
 
 
 
 
 
 
 
             Denominator - Basic and Diluted
Weighted average common shares (b)
7,067,864

 
7,008,436

 
7,054,910

 
6,988,624
 
 
 
 
 
 
 
 
 
 
             Earnings per Common Share - Basic and Diluted ($)
.25

 
.38

 
.18

 
.33

 
 
 
 
 
 
 
 
 
 
        (a) Percentage allocated to weighted average common shares outstanding:
 
 
 
 
 
 
 
 
          Common shares outstanding
7,067,864

 
7,008,436

 
7,054,910

 
6,988,624

 
          Unvested participating shares outstanding (c)
30,300

 
39,000

 
—

 
—

 
            Total
7,098,164

 
7,047,436

 
7,054,910

 
6,988,624

 
 
 
 
 
 
 
 
 
 
     Percentage allocated to common shares
99.6
%
 
99.5
%
 
100
%
 
100
%
 
 
 
 
 
 
 
 
 
 
               Undistributed earnings (loss) ($000)
348

 
1,248

 
(1,629
)
 
(472
)
 
                    Allocated to common shares ($000)
347

 
1,240

 
(1,629
)
 
(472
)
 
 
 
 
 
 
 
 
 
 
(b) Under our Incentive Compensation Plan, recipients of performance share awards receive unvested non-participating shares, as further discussed in Note 12 of the Notes to Condensed Consolidated Financial Statements. Unvested non-participating shares become dilutive in the interim quarter-end in which the performance objective is met. If the performance objective continues to be met through the end of the performance period, these shares become unvested participating shares as of the fiscal year-end, as further discussed below in Note (c). The weighted average number of unvested non-participating shares outstanding during a period is included in the diluted earnings per common share calculation using the treasury stock method, unless the effect of including such shares would be antidilutive. As of both December 31, 2015 and 2014, there were 39,000 unvested non-participating shares outstanding, which were not dilutive as the underlying performance condition has not been met.

(c) Certain awards under our shareholder approved incentive compensation plan, as further discussed in Note 12 of the Notes to Condensed Consolidated Financial Statements, provide recipients of the awards all the rights of a shareholder of Delta including the right to dividends declared on common shares. Any unvested shares which are participating in dividends are considered participating securities and are included in our computation of basic and diluted earnings per share using the two-class method unless the effect of including such shares would be antidilutive. As of December 31, 2015 and 2014 there were 30,300 and 39,000 participating shares outstanding, respectively, which were excluded from the computation of earnings allocated to common shares for the six months ended December 31, 2015, as the holders of the unvested participating shares do not have a contractual obligation to share in losses.