Singapore Post Limited (SGX: S08) is facing challenging conditions in more than one of its divisions. The sole postal and parcel service provider had just released an operational update for the first quarter of fiscal 2023 (1Q2023) ending 30 June 2022. The group reported that traditional letter mail volumes continued their steady decline, thus negatively impacting its Domestic Post and Parcel division. To make matters worse, costs had risen for the division for fuel, labour and utilities due to high inflation. Furthermore, a major e-commerce customer had also insourced part of its logistics, leading to lower volumes for the division. As a result, the segment is expected to post an operating loss for the quarter. With such worrisome news, can SingPost continue to maintain its dividend payments? A perfect storm of problems Granted, the issues related to the fall in traditional mail volumes are not new. For its fiscal 2022 ended 31 March 2022 (FY2022), SingPost had reported...