The boardof Sturgeon Bay, Wis.-based Baylake Corp. declared a special dividend of 40 centsper share on the company's common stock, according to an April 1 news release.

The specialdividend will be paid April 25 to stockholders of record April 18.

Thecompany said the dividend is to be paid prior to closing as allowed in theagreement and plan of merger agreement with Green Bay, Wis.-based