Sir Anthony O'Reilly was paid €1.82 million last year for his role as chief executive of Independent News & Media, an increase of 24 per cent on the €1.47 million package he received in 2005.

The five executive directors of Independent News & Media shared a total remuneration package of almost €7 million. Ivan Fallon, chief executive of Independent News & Media UK, received the second-highest package. He was paid €1.43 million, up 29 per cent on 2005. Group operating officer Gavin O'Reilly was paid a total of €1.4 million in 2006, a rise of 11 per cent. Both Mr Gavin O'Reilly and Mr Fallon received bonuses of €525,000.

Vincent Crowley, chief executive of Independent News & Media Ireland, received €1.28 million, up from €1.14 million in 2005, while group chief financial officer Donal Buggy was paid €1.01 million, up from €892,000.

Seconded director Brendan Hopkins was paid €1.9 million last year.

Mr Hopkins is chief executive of Australian associate APN News & Media in which the Independent has a 42 per cent stake.

Sir Anthony O'Reilly also received about €24.9 million in dividends based on the 199.4 million shares he held in the year.

In addition, he made a profit of €2.54 million on the exercise of 2.65 million share options at a weighted average exercise price of €1.61.

The average share price on the dates of the exercise was €2.57.

As of the end of the year, he held 4.739 million share options exercisable at an average price of €2.31 until December 2016.

His remuneration included a bonus of €650,000.