Why I Sold a Small Part of My Singapore Technologies Engineering Shares

Over the past year, Singapore Technologies Engineering (STE) has had an incredible run. Compared to just 12 months ago, the share price has risen by almost 100%. That is a significant rally, especially for a traditionally defensive counter like this. While I am glad to see one of my core dividend holdings performing so well, the sharp price appreciation has also changed the dynamics of the stock, particularly the yield, which has now been compressed to below 2.5%. That is a little too low for my liking, especially considering my dividend investing goals. STE has benefited from several positive tailwinds over the past year. Its aerospace division recovered strongly with global air travel rebounding, and its defense and smart city solutions continued to see robust demand. The company also announced multiple new contract wins, both locally and globally, which boosted investor confidence. More importantly, to dividend investors like myself, STE int...