Two new features are added in the equity forward pricing model. One feature is settle date lag, which is introduced to match market conventions as forward contracts are sometimes settled with a delay. The other feature is dividend percentage, which allows the model user to use part of the real dividend for calculation.
Suppose the initial trade date is set to time zero, the maturity of the forward is T. If there is a delay of delta for the forward contract to be effective, and a delay of for the contract to be settled, the forward price is calculated