2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/216715In this paper we solve the dividend optimization problem for a corporation or a financial institution when the managers of the corporation are facing (regulatory) implementation delays. We consider several cash reservoir models for the firm including two mean-reverting processes, Ornstein-Uhlenbeck and square-root processes. We provide our solution via a new characterization of the value function for one-dimensional diffusions and provide easily implementable algorithms to find the optimal control and the value function.Key Words: Impulse Control, Implementation Delay, Dividend Payments, Brownian motion, Ornstein-Uhlenbeck Process, Square-root Process, Itô DiffusionsOptimization and ControlProbabilityGeneral Finance93E20, 60J60text