StarHub (SGX: CC3) hasn’t had it easy in the last 18 months. The telecommunication company (telco) is facing pressure from multiple fronts as the pandemic crimps demand for its mobile division and streaming TV providers such as Netflix (NASDAQ: NFLX) steal market share from its cable TV segment. In response, the group initiated a three-year transformation plan called DARE (delivering, accelerating, realising and enhancing) in October 2018. The initiative is expected to generate savings of around S$273 million as of October this year, thereby putting the telco on a path of higher profitability. Yet, growth appears to be elusive as the telco continues to grapple with industry challenges. As it stands, the group’s dividend policy is to pay out the higher of S$0.05 or 80% of its net profit. Could StarHub, therefore, qualify as a consistent dividend payer? Weaker financial numbers The telco has recently released its fiscal 2021 half-year (1H2021) results, and it wasn’t a pretty picture....