Stockholders' Equity

12 Months Ended

Jun. 30, 2015

Stockholders Equity [Abstract]

Stockholders' Equity

Note 15. Stockholders' Equity

Reservation of Shares

The Company has reserved common shares for future issuance as follows as of June 30, 2015:

Stock options outstanding	187,500
Stock options available for issuance	192,850
Number of common shares reserved	380,350

The following table sets forth the reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for continuing operations for the years ended June 30:

	2015			2014
Numerator:
Net Income	$	3,183,127		$	1,167,885
Denominator:
Basic EPS:
Common shares outstanding, beginning of period		2,368,110			2,344,690
Unearned ESOP shares		(97,500	)		(116,666	)
Weighted average common shares issued during the period		3,364			9,991
Weighted average common shares purchased during the period		(9,442	)		—
Weighted average ESOP shares earned during the period		6,894			7,207
Denominator for basic earnings per common shares –
Weighted average common shares		2,271,426			2,245,222
Diluted EPS:
Common shares outstanding, beginning of period		2,368,110			2,344,690
Unearned ESOP shares		(97,500	)		(116,666	)
Weighted average common shares issued during the period		3,364			9,991
Weighted average common shares purchased during the period		(9,442	)		—
Weighted average ESOP shares earned during the period		6,894			7,207
Weighted average dilutive effect of stock options		19,116			40,313
Denominator for diluted earnings per common shares –
Weighted average common shares		2,290,542			2,285,535

Not included in this computation of earnings per share for the year ended June 30, 2015 and 2014 were options to purchase 25,250 and 25,975 shares, respectively, of the Company's common stock. These options were excluded because their inclusion would have been anti-dilutive due to the average strike price exceeding the average market price of those shares.

The Company paid cash dividends on common stock of $1.00 per share for the fiscal year ended June 30, 2015 (of which $0.25 per share was accrued at June 30, 2015) and $2.00 per share for the fiscal year ended June 30, 2014, which included a special dividend of $1.00 per share.Subsequent to June 30, 2015, the Board of Directors has authorized the payment of a fiscal 2016 first quarter dividend of $.25 payable October 1, 2015 to shareholders of record on September 24, 2015.Our Board of Directors assesses the Company's dividend policy periodically.There is no assurance that the Board of Directors will either maintain the amount of the regular cash dividend or declare a special dividend during any future years.