Stock Based Compensation (Tables)

9 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Fair Value Assumptions

The table below outlines the weighted average assumptions that the Company used to calculate the fair value of each option award for the nine months ended March 31, 2020 and 2019.

	March 31, 2020		March 31, 2019
Dividend yield		4.88%		3.68%
Company’s expected volatility		27.81%		27.63%
Risk-free interest rate		1.67%		2.70%
Expected term		5.3 yrs		5.2 yrs
Weighted average fair value per share
of options granted during the period	$	3.03	$	5.13

Schedule of Stock Option Activity

The following table summarizes stock option activity during the nine months ended March 31, 2020:

	Employee Stock Options Plan
						Weighted
	Number of			Weighted		Average
	Shares			Average		Remaining		Aggregate
	Subject			Exercise		Contractual		Intrinsic
	To Options			Price		Term		Value
Balance at July 1, 2019		259,164		$	25.16		6.37
Granted		54,025			20.50		9.69
Exercised		(3,600	)		22.50		—
Forfeited or expired		(26,152	)		25.38		—
Outstanding at March 31, 2020		283,437		$	24.28		6.40	$	0
Vested or expected to vest at March 31, 2020		266,689		$	24.32		6.23	$	0
Exercisable at March 31, 2020		177,820		$	24.57		4.75	$	0

Schedule of Changes in Non-Vested Stock Options

The following table summarizes changes in non-vested stock options during the nine months ended March 31, 2020:

	Weighted Number			Average
	of Shares			Grant Date
	Subject			Fair Value
	to Option			(per Option)
Non-vested at July 1, 2019		104,214		$	4.077
Granted		54,025		$	3.030
Vested		(43,420	)	$	2.794
Forfeited or expired		(9,202	)	$	4.194
Non-vested at March 31, 2020		105,617		$	4.059