This excerpt taken from the CAPE 8-K filed Jun 12, 2006.
5% STOCK DIVIDEND
WILMINGTON, NC June 12, 2006 Bank of Wilmington Corporation (Nasdaq: BKWW) announced today that its Board of Directors has approved a 5% stock dividend on the companys outstanding common stock. The stock dividend will be paid on June 30, 2006, to shareholders of record on June 22, 2006. As a result of the stock dividend, each holder of shares of the companys common stock on the record date will receive one new share of common stock for each twenty whole shares held of record on that date. In lieu of issuing fractional shares, the company will pay cash based on the average of the closing bid and asked prices of its common stock on The Nasdaq Capital Market on the record date.