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A wave's velocity is the product of the:
Transaction Costs
Expenses incurred when buying or selling goods and services, including fees, taxes, and other charges.
Residual Dividend Policy
A strategy where dividends are based on earnings minus funds the firm retains to finance the equity portion of its investment and working capital requirements.
Special Dividend
A one-time distribution of earnings to shareholders, oftentimes an indication of excess cash the company wants to return.
Homemade Dividend
A concept where investors create their own dividend policy by selling a portion of their portfolio of equities instead of relying on company-issued dividends.
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