DETROIT, Feb 6 Reuters Ford Motor shares jumped on Tuesday after the automaker said it will return more cash to shareholders, starting with an extra 18 centspershare dividend in the first quarter, joining General Motors in giving investors more of the cash spinning from North American combustion trucks.

Ford forecast 10 billion to 12 billion in pretax profit for 2024, after earning 10.4 billion before taxes last year.

Profit from Ford39;s Pro commercial vehicle business and Ford Blue combustion vehicle units offset steep losses from Model E electric vehicle operations.

Ford is slowing investment in new EV capacity to match slower demand following a seismic change in EV pricing over the past year, Ford executives told analysts.

The next generation of Ford EVs will be launched only when they can be profitable, Marin Gjaja, head of the Model E EV business, told analysts Tuesday.

Ford39;s North American truck and SUV business both commercial and consumer will contribute to projected free cash flow of 6 billion to 7 billion this year. Ford has committed to return to investors 40 to 50 of free cash flow.

Whenever that regular dividend doesnt reach 4050 we will provide a supplemental dividend, Chief Financial Officer John Lawler told reporters on a conference call on Tuesday.

Consistency is going to be very important, he said.

Ford shares were up 6.1 in afterhours trading after gaining 4.1 during the regular session. The shares so far this year have dipped 0.7….