Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Fair Value of Option Grant of Weighted-average Assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants during the three months ended March 31, 2020:

	2020
Dividend yield		5.33	%
Expected volatility		24.59	%
Risk-free interest rate		0.88	%
Expected lives		10
Estimated forfeitures		-0-