Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of TV broadcast company Sinclair Broadcast Group (Nasdaq: SBGI) shot up as much as 14% in intraday trading Wednesday after the company reported fourth-quarter earnings.

So what: Still not sure whether politics is big business? Just check out Sinclair's fourth-quarter and full-year results. Political advertising was a big factor in the company's healthy numbers, as full-year political revenue was $41.9 million -- a 2% increase over the 2008 presidential election year. But it wasn't just political spending that boosted Sinclair's results, according to the company; automotive, services, telecom, media, furniture, and school ad spending were also particularly strong. On the bottom line, Sinclair showed a per-share profit of $0.40, up from a $0.85 loss per share last year and in line with analysts' expectations.

Now what: Sinclair's first quarter may appear to have gotten a nice bump from the Super Bowl, as the company generated $6.2 million in ad revenue from its 20 Fox affiliates, up from $4.9 million the last time Fox hosted the Super Bowl in 2008. Of course, for investors, the more important news may be the fact that the company reinstated its dividend with a $0.12 quarterly payment that will be made in March. The $0.48 annual rate is still well short of the $0.80 rate it was paying back in 2008, but it will give the stock a very worthwhile 4.3% yield.

Want to keep up to date on Sinclair Broadcast Group? Add it to your watchlist.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool’s disclosure policy prefers dividends over a sharp stick in the eye.