Sir Anthony O'Reilly, who took over as executive chairman of Independent News & Media in May last year, received salary and fees totalling €390,000 (£307,150), the Independent annual report disclosed. Sir Anthony's relatively modest salary, however, was augmented by the €10.5 million dividends he received in respect of his 139.8 million shares in Independent.

Independent's highest-paid director is head of its British operations, Mr Brendan Hopkins who received €943,000 while finance director Mr James Parkinson received €698,000. Sir Anthony's son, Mr Gavin O'Reilly - who is head of the Irish operations - received €556,000, while another son, Mr Cameron O'Reilly - who used to run the Australian operations - received €580,000.

The chairman of Independent Newspapers (Ireland), Mr David Palmer, received €552,000 while Mr Vincent Crowley - who heads the Australian and New Zealand operations - received €535,000.

Mr Ivan Fallon, who is head of Independent's South African operations - received a package worth €612,000. He also received a €140,000 salary as chairman of Independent's iTouch associate and a once-off payment of €328,000 for what the annual report describes as "the successful initial public offering" of iTouch. ITouch was floated at 70p sterling a share and is currently trading at 43p sterling. In total, Mr Fallon received more than €1 million from Independent and iTouch.

The annual report shows that Mr Liam Healy, who retired as chief executive last May, received €199,000 for his four months as an executive director. He also received €155,000 for the subsequent eight months as a non-executive director. This payment includes a €130,000 salary as deputy chairman. The former deputy chairman, Mr John Meagher - who died earlier this year - received a total of €155,000 last year.

Another non-executive director, the former Washington Post editor Mr Ben Bradlee received €167,000 in "other remuneration" as well as his director's fees of €19,000, while Mr Vincent Ferguson received "other remuneration" of €85,000 as well as his €19,000 fees.