The Flux Corporation held a Board of Directors meeting on Monday, October 8 to determine whether the company would declare a dividend for the year. After reviewing their financial performance, the Board ratified a motion to declare a dividend of $1.25 per share. The date of record was October 12 and the date of payment was November 2. Following this information closely in The Globe and Mail, Shelly, a shareholder in the company, contacted her broker on October 9 and purchased another 100 shares of Flux on that date. Which of the following statements is TRUE?

Question 23 options:

	Shelly bought the shares ex dividend.
	Shelly bought the shares cumm dividend.
	Shelly is not entitled to the dividend because she made the request to purchase the shares before the date of record.
	Shelly bought the shares after the ex dividend date.