Stock-Based Incentive Plan (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Valuation Assumptions

. The range of assumptions used in the Monte Carlo simulation valuations for the years ended June 30, 2017 and 2016 were as follows:

	Years Ended June 30
	2017			2016
Weighted average fair value of market-based awards granted	$	4.97		$	5.50
Risk-free interest rate	1.03		%	1.46		%
Expected life in years	2.83			3.83
Expected volatility	37.8		%	34.9		%
Dividend yield	3.5		%	3.3		%

Schedule of Restricted Stock transactions

Unvested Restricted Stock awards at June 30, 2018 consisted of the following:

Award Type	Number of Restricted Shares	Weighted Average Grant-Date Fair Value
Service-based awards	157,906	$	7.16
Performance-based awards	21,259	5.67
Market-based awards	20,312	5.44
Unvested at June 30, 2018	199,477	$	6.83

Unvested Contingent Restricted Stock awards at June 30, 2018 consisted of the following:

Award Type	Number of Contingent Restricted Shares	Weighted Average Grant-Date Fair Value
Performance-based awards	18,406	$	7.52
Market-based awards	10,156	3.42
Unvested at June 30, 2018	28,562	$	6.06

The following table sets forth the Restricted Stock transactions for the year ended June 30, 2018:

	Number of Restricted Shares		Weighted Average Grant-Date Fair Value		Unamortized Compensation Expense at June 30, 2018		Weighted Average Remaining Amortization Period (Years)
Unvested at July 1, 2017	391,624		$	6.22	$	—
Service-based awards granted	136,907		7.53
Vested	(211,960	)	6.73
Forfeited	(117,094	)	5.78
Unvested at June 30, 2018	199,477		$	6.83	$	747,204	2.0

The following table summarizes Contingent Restricted Stock activity for fiscal 2018:

	Number of Restricted Stock Units		Weighted Average Grant-Date Fair Value		Unamortized Compensation Expense at June 30, 2018 (1)		Weighted Average Remaining Amortization Period (Years)
Unvested at July 1, 2017	113,270		$	4.64
Forfeited	(38,078	)	5.17
Vested	(46,630	)	3.34
Unvested at June 30, 2018	28,562		$	6.06	$	12,251	1.0

(1) Excludes $78,159 of potential future compensation expense for performance-based awards for which vesting is not considered probable at this time for accounting purposes.

Schedule of Restricted Stock Activity

The following is a summary of Restricted Stock vestings for the last three fiscal years:

	Year Ended June 30,
	2018		2017		2016
Vesting-date intrinsic value of Restricted Stock	$	1,622,937	$	1,478,478	$	485,580
Grant-date fair value of vested Restricted Stock	$	1,427,498	$	1,520,569	$	757,229

The following is a summary of Contingent Restricted Stock vestings for the last three fiscal years:

	Year Ended June 30,
	2018		2017		2016
Vest-date intrinsic value of Contingent Restricted Stock	$	347,852	$	183,572	$	—
Grant-date fair value of vested Contingent Restricted Stock	$	155,744	$	197,170	$	—