$Keppel(BN4.SG) quietly made a significant strategic pivot this week.The planned M1 sale is off. Instead, Keppel signed a 25-year submarine cable agreement with Telstra International — locking in long-term infrastructure revenue rather than releasing capital from the telco business.I'll be honest: when the M1 sale rumours were circulating, I was watching to see if proceeds would get recycled into higher-yield assets. That didn't happen. But a 25-year cable deal with Telstra isn't nothing — it's predictable, contracted income, which fits the infrastructure thesis Keppel has been building.Not a headline-grabbing move. But steady cash flow over two decades is exactly what a dividend investor should appreciate.I'm not changing my position. Just watching how this develops.