Quarterly report pursuant to Section 13 or 15(d)

Share-Based Payments (Tables)

v3.8.0.1
Share-Based Payments (Tables)
3 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Restricted Stock Activity
The transactions for restricted stock for the three months ended December 31, 2017 were as follows:
 
Shares
 
Weighted-
average
Grant-date
Fair Value
Non-vested at September 30, 2017
501,184

 
$
53.65

Granted
234,100

 
57.05

Vested
(168,280
)
 
51.54

Expired or forfeited
(5,214
)
 
59.51

Non-vested at December 31, 2017
561,790

 
$
55.64

Assumptions used in Estimating Fair Value
The following table indicates the assumptions used in estimating the fair value of restricted stock granted during the three-month periods ended December 31, 2017 and 2016.
 
Three Months Ended
December 31,
 
2017
 
2016
Expected volatility
20.5
%
 
20.2
%
Dividend yield
1.0
%
 
1.1
%
Average risk-free interest rate
2.0
%
 
1.7
%
Average expected term (years)
2.1

 
2.1