Sir Anthony O'Reilly's pay as chief executive of Independent News & Media rose to €1.47 million last year from €1.32 million in 2004, according to the group's latest annual report.
His pay, including a €550,00 bonus, represents only a small part of the money he receives from the group. His dividends for 2005 exceeded €21.15 million in respect of the 196.74 million shares he held in the year.
In addition, he made a paper profit of €1.3 million on the exercise of 1.3 million share options at a weighted average exercise price of €1.25. The average share price on the dates of exercise was €2.26. At the end of the year, he held 5.89 million share options exercisable at an average price of €1.83 until late 2014.
Sir Anthony is one of a group of six executive directors and a seconded director whose total remuneration rose to €7.79 million from €6.97 million.
The biggest individual remuneration package was the €1.91 million paid to Brendan Hopkins, a seconded director and chief executive of APN News & Media, in which Independent has a 40.5 per cent stake. Mr Hopkins' pay, up from €1.48 million, included a €720,000 bonus and €238,000 in benefits-in-kind. His 2005 dividends were €161,521 and he made a paper profit of €153,664 on the exercise of shares.
Sir Anthony's son Gavin, the group chief operating officer, saw his pay rise to €1.27 million from €1.12 million in 2004. Gavin O'Reilly's remuneration package included a €450,000 bonus and €21,000 in benefits-in-kind.
The dividend payment for 2005 on his 640,302 shares was €68,832.
Vincent Crowley, chief executive of the Independent's Irish unit, received €1.14 million last year, up from €975,000. This included a €350,000 bonus.
The head of the UK unit, Ivan Fallon, received €1.11 million, including a €450,000 bonus, up from €979,000.
Donal Buggy, the group chief financial officer, received €892,000, up from €747,000. His bonus was €350,000.
The group's 14 non-executive directors received €1.27 million last year. Sixteen non-executive directors received €1.14 million in 2004. The chairman, Dr Brian Hillery received €133,000 in 2005.
The €281,000 paid to former chief executive Liam Healy included €233,000 in "other remuneration". Long-time board member Vincent Ferguson received €159,000 and American Ireland Fund director Charles Daly received €149,000.
Former Canadian prime minister Brian Mulroney received €109,000 and Baroness Margaret Jay received €106,000. Senator Maurice Hayes and Peter Cosgrove each received €68,000.
Sir Anthony's son Cameron received €62,000 and his son Tony Jr received €25,000.
Dr Ivor Kenny received €42,000 while accountant Bernard Somers and Davy stockbroker Joseph Davy each got €25,000.
