Kate purchased 500 shares of Fast Deliveries stock on Wednesday, April 28. Anthony purchased 100 shares of Fast Deliveries stock on Thursday, April 29. Fast Deliveries declared a dividend on April 12 to shareholders of record on May 4 and payable on June 1. Which one of the following statements concerning the dividend paid on June 1 is correct given this information?

• Anthony is entitled to the dividend but Kate is not.

• Both Kate and Anthony are entitled to the dividend.

• Both Kate and Anthony are entitled to one-half of the dividend amount.

• Neither Kate nor Anthony is entitled to the dividend.

• Kate is entitled to the dividend but Anthony is not.