In established corporations, management typically develops a distribution policy or payout policy, which outlines how the company allocates its profits and free cash flow $($FCF$).$ The goal of this policy is to enhance the firm$$s value and maximize shareholder wealth.

Which of the following factors influence management$$s decisions regarding a company$$s distribution policy? Select all that apply.

The stability of payments to shareholders

The level of cash distributions

The level of debt and interest payments

The form of payment to shareholders