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Shareholders' Equity (Tables)
 12 Months Ended
Apr. 30, 2017
Equity [Abstract]  
Summary of Changes in Outstanding Options

A summary of changes in outstanding options for the year ended April 30, 2017 is as follows:

 

     Number of
Shares		      Weighted
Average
Exercise
Price		      Weighted
Average
Remaining
Contractual
Term
(years)		      Aggregate
Intrinsic
Value		  

Outstanding at May 1, 2016

      3,489,857      $ 8.58        

Granted

      360,000        10.08        

Exercised

      (754,811 )       7.57        

Forfeited

      (15,900 )       9.09        
  

 

 

     

 

 

        

Outstanding at April 30, 2017

      3,079,146      $ 9.00        3.2      $ 6,073,168  
  

 

 

     

 

 

     

 

 

     

 

 

  

Exercisable at April 30, 2017

      1,365,586      $ 8.82        2.2      $ 2,941,982  
  

 

 

     

 

 

     

 

 

     

 

 

  

 
Fair Value of Option Award Estimated Using Black-Scholes Option Pricing Model
The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the years ended April 30, 2017, 2016, and 2015:

 

     2017     2016     2015  

Dividend yield

      4.0 %      4.9 %      4.0 % 

Expected volatility

      32.7 %      33.6 %      34.5 % 

Risk-free interest rate

      1.2 %      1.5 %      1.7 % 

Expected term

      5.0 years       5.0 years       5.0 years