XML 38 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Shareholders' Equity (Tables)
 12 Months Ended
Apr. 30, 2020
Equity [Abstract]  
Summary of Changes in Outstanding Options
A summary of changes in outstanding options for the year ended April 30, 2020 is as follows:
 
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
(years)
 
Aggregate
Intrinsic
Value
Outstanding at May 1, 2019
3,983,060

 
$
10.88

 
 
 
 
Granted
1,113,000

 
14.72

 
 
 
 
Exercised
(1,020,910
)
 
9.87

 
 
 
 
Forfeited
(327,000
)
 
12.02

 
 
 
 
Expired
(2,500
)
 
9.79

 
 
 
 
Outstanding at April 30, 2020
3,745,650

 
$
12.21

 
3.8
 
$
16,011,836

Exercisable at April 30, 2020
900,610

 
$
10.69

 
2.8
 
$
5,214,907
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, 2020, 2019, and 2018:
 
2020
 
2019
 
2018
Dividend yield
2.8
%
 
3.6
%
 
3.9
%
Expected volatility
30.9
%
 
30.0
%
 
28.9
%
Risk-free interest rate
1.6
%
 
2.9
%
 
1.9
%
Expected term
5 years

 
5 years

 
5 years