Stock-based Compensation (Tables)
 12 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of weighted average assumptions for option awards

The table below outlines the weighted average assumptions that the Company used to calculate the fair value of each option award for the year ended June 30, 2020 and 2019.

 

   2020   2019 
         
         
Dividend yield   4.88%    3.68% 
Expected stock price volatility   27.81%    27.63% 
Risk-free interest rate   1.67%    2.70% 
Expected option life (in years)   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 twelve months ended June 30, 2020:

   Employee Stock Options Plan
         Weighted   
   Number of  Weighted  Average 
   Shares  Average  Remaining  Aggregate
   Subject  Exercise  Contractual  Intrinsic
   to Option  Price  Term  Value
Balance at July 1, 2019   259,164   $25.16    6.37      
Granted   54,025   $20.50    9.44      
Exercised   (3,600)  $22.50    —      
Forfeited or expired   (32,877)  $25.05    —      
Outstanding at June 30, 2020   276,712   $24.30    6.10   $0 
Vested or expected to vest at June 30, 2020   261,573   $24.34    5.93   $0 
Exercisable at June 30, 2020   179,520   $24.63    4.54   $0 

 
Schedule of changes in non-vested stock options

The following table summarizes changes in non-vested stock options during the twelve months ended June 30, 2020:

      Weighted 
   Number of   Average 
   Shares   Grant Date 
   Subject   Fair Value 
   to Option   (per Option) 
Non-Vested at July 1, 2019   104,214   $4.08 
Granted   54,025    3.03 
Vested   (45,920)   2.93 
Forfeited or expired   (15,127)   4.11 
Non-Vested at June 30, 2020   97,192   $4.03