Looking to add high-yield income to your portfolio? My two top picks for September 2024 – Chevron (CVX) and Banco Santander (SAN) – offer a compelling blend of dividend income and growth potential, each with a strategic allocation in mind. Chevron, with 36 years of consecutive dividend growth and a forward yield of 4.71%, brings both stability and income growth. Valued attractively with a P/E ratio close to its sector median, Chevron is an ideal choice for long-term, income-focused investors. I recommend a 4% allocation to manage risks tied to oil price fluctuations.

Banco Santander, on the other hand, provides a unique high-yield opportunity with a forward yield of 3.95% and growth potential across diverse markets, from Europe to South America. While offering a lower valuation than U.S. banks, Santander carries a slightly higher risk level due to regional exposure. Thus, a conservative 2.5% allocation is suggested to balance risk and return.

Both picks enhance portfolio diversification and offer a balanced dividend strategy. By combining Chevron’s consistent dividend growth with Santander’s high yield, you can effectively increase your portfolio’s income potential and stability. Discover more on how these companies can strategically complement your dividend portfolio in my full Seeking Alpha article.