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Earnings Per Common Share (Tables)
 3 Months Ended
Sep. 30, 2016
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The following table sets forth the computation of basic and diluted earnings (loss) per common share:
 
Three Months Ended
 
 
September 30,
 
 
2016
 
2015
 
             Numerator - Basic and Diluted ($000)
 
 
 
 
              Net income (loss)
(458
)
 
(524
)
 
              Dividends paid
(1,476
)
 
(1,453
)
 
              Undistributed earnings (loss) (a)
(1,934
)
 
(1,977
)
 
 
 
 
 
 
Allocated to common shares:
 
 
 
 
Undistributed earnings (loss) (a)
(1,934
)
 
(1,977
)
 
              Dividends paid (b)
1,476

 
1,447

 
               Earnings (loss) allocated to common shares
(458
)
 
(530
)
 
 
 
 
 
 
             Denominator - Basic and Diluted
                   Weighted average common shares (c)
7,101,842

 
7,044,462

 
 
 
 
 
 
             Earnings (Loss) per Common Share - Basic and Diluted ($)
(.06
)
 
(.08
)
 
 
 
 
 
 
        (a) Percentage allocated to common shares:
 
 
 
 
 
 
 
 
 
          Weighted average:
 
 
 
 
               Common shares outstanding
7,101,842

 
7,044,462

 
               Unvested participating shares outstanding (d)
—

 
—

 
                Total
7,101,842

 
7,044,462

 
 
 
 
 
 
    Percentage allocated to common shares
100.0
%
 
100.0
%
 
 
 
 
 
 
Undistributed earnings (loss) ($000)
(1,934
)
 
(1,977
)
 
 
 
 
 
 
                        Allocated to common shares
(1,934
)
 
(1,977
)
 
 
 
 
 
 

(b) Represents dividends paid on common shares, exclusive of unvested participating shares.

(c) 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 (d). The weighted average number of unvested non-participating shares outstanding during a period is included in the diluted earnings (loss) per common share calculation using the treasury stock method, unless the effect of including such shares would be antidilutive. As of September 30, 2016, and 2015 there were 41,000 and 39,000 unvested non-participating shares outstanding, respectively, which were not dilutive as the underlying performance condition has not been met.

(d) 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 (loss) per share using the two-class method unless the effect of including such shares would be antidilutive. As of September 30, 2016 and 2015 there were 4,000 and 30,300 unvested participating shares outstanding, respectively, which were excluded from the computation of earnings (loss) allocated to common shares, as the holders of the unvested participating shares do not have a contractual obligation to share in losses.