Singapore Press Holdings (T39.SG) +0.7% at $4.11, extending largely steady recovery since falling to over 5-week low of $3.91 in mid-August, as media group’s defensive traits make stock safer bet than higher-beta plays at time when investor sentiment increasingly edgy given uncertainty over global economic outlook, says Dow Jones.

UOB KayHian, which has Buy call, $4.50 target, says stock may head even higher in coming weeks as it expects SPH to unveil bumper final dividend for fiscal FY10 ended August on October 12. Tips payout of $0.22/share, translating to 5.4% yield based on yesterday’s close.

“Investors need not wait for SPH’s actual dividend payout to enjoy the return. History has shown that the share price will normally rally in anticipation of the dividend announcement in SPH’s final results,” says the broker. Near-term resistance at 52-week high of $4.20.