charlie hebdo
Twelve people were killed during the massacre at Charlie Hebdo's office (Getty)

Charlie Hebdo said it will give €4.3m (£3.1m, $4.8m) of money it received in donations to the victims of the terror attack at their Paris office in which 12 people were killed.

The French satirical magazine was targeted by jihadists in January over its depiction of the Islamic Prophet Mohammed.

Following the attack, the profile of the controversial magazine was raised around the world, with people using the hashtag Je Suis Charlie as a symbol of freedom of speech.

The survivors edition of the magazine, which was released in the wake of the Paris attack also became Charlie Hebdo's best-selling issue by some margin. Before the shooting, the publication would sell around 30,000 copies a week, with the survivors issue selling more than eight million copies worldwide.

As well as the increase in sales, people from all across the world donated to Charlie Hebdo. The publication's management said the money, which had come from 36,000 people in 84 different countries, would be "handed over in full to the victims".

The decision arrived after arguments between staff at Charlie Hebdo about how best to use the money as well as how the magazine is run.

Around three quarters of the 20 magazine staff are calling for all employers to become equal shareholders.

Patrick Pelloux, a Charlie Hebdo columnist who survived the attack, told France Info radio: "This money must be given to the victims. That is the commitment that was made. But, at this time we don't really know how that will happen."

Pelloux added he did not believe the management was being transparent enough about what they planned to do with the money.

Speaking to AFP, Chalrie Hebdo said it wanted to dismiss the "fanciful figures" that are circulating on the magazine's revenues. In the wake of the attack, the magazine is estimated to have made a profit of €12m, before company tax of 33.33% according to the shareholders, reiterating "their absolute commitment to collect no dividend from these sums".

The latest issue of Charlie Hebdo sold around 170,000, with future issues expected to average out at around 100,000.