AMDOCS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (dollar and share amounts in thousands, except per share data) The aggregate intrinsic value of outstanding and exercisable stock options as of September 30, 2013 was $76,647 and $36,404, respectively. Employee equity-based compensation pre-tax expense for the years ended September 30, 2013, 2012 and 2011 was as follows: Cost of service .......................................... Research and development ................................. Selling, general and administrative .......................... Total .................................................. The total income tax benefit recognized in the income statement for stock-based compensation (including restricted shares) for fiscal 2013, 2012 and 2011 was $4,150, $6,254 and $2,350, respectively. As of September 30, 2013, there was $35,746 of unrecognized compensation expense related to unvested stock options and unvested restricted stock awards. The Company recognizes compensation costs using the graded vesting attribution method, which results in a weighted average period of approximately one year over which the unrecognized compensation expense is expected to be recognized. The fair value of options granted was estimated on the date of grant using the Black-Scholes pricing model with the assumptions noted in the following table (all in weighted averages for options granted during the year): Risk-free interest rate(1) ........................................ Expected life of stock options(2) ................................. Expected volatility(3) .......................................... Expected dividend yield(4) ...................................... Fair value per option ........................................... The Company’s board of directors declared the following dividends during the fiscal year ended September 30, 2013: (1) Risk-free interest rate is based upon U.S. Treasury yield curve appropriate for the term of the Company’s employee stock options. (2) Expected life of stock options is based upon historical experience. (3) Expected volatility is based on blended volatility. Please see Note 2 to the consolidated financial statements. (4) Expected dividend yield is based on the Company’s history and future expectation of dividend payouts. Note 19 — Dividends Declaration Date Dividends Per Ordinary Share Record Date Total Amount Payment Date November 6, 2012 ....... $0.13 December 31, 2012 $21,032 January 18, 2013 January 30, 2013 ........ $0.13 March 28, 2013 $20,927 April 19, 2013 April 30, 2013 .......... $0.13 June 28, 2013 $20,929 July 19, 2013 July 31, 2013 ........... $0.13 September 30, 2013 $20,812 October 18, 2013 F-32 Year Ended September 30, 2013 2012 2011 0.74% 0.70% 1.50% 4.50 4.50 4.50 22.7% 28.5% 30.5% 1.48% 0.02% None $5.74 $7.18 $ 7.76 Year Ended September 30, 2013 2012 2011 $18,284 $22,641 $14,641 3,805 4,320 2,701 18,251 16,468 19,289 $40,340 $43,429 $36,631