Elanor Commercial Property Fund (ASX:ECF) said it expects a quarterly distribution of AU$0.01625 per security for the fiscal first quarter ended Sept 30, down from AU$0.01875 per security a year earlier, according to a Friday filing with the Australian bourse.

The dividend is payable Nov. 6 to shareholders on record as of Sept. 30, the filing said.

The company also reaffirmed its fiscal 2026 distribution guidance of AU$0.065 per security, the filing added.

In the same filing, the company said its independent board committee recommended that shareholders reject Lederer Group's proposed takeover offer of AU$0.70 cash for each stapled security.