Kristen Stewart has topped Forbes' annual list of the world's highest paid female film stars for the first time thanks to the financial success of the Twilight Saga.

Stewart, 22, made an estimated $34.5m (£22m) between May 2011 and May 2012, a sum that allowed her to pip Cameron Diaz, $34m (£21.6m), to the top spot. The latter has appeared in comedy blockbuster Bad Teacher, pregnancy guide-book adaptation What to Expect When You're Expecting and superhero caper The Green Hornet over the last 12 months.

Third place went to Sandra Bullock, whose last high-profile role was her Oscar-winning performance in 2009 drama The Blind Side. She earned $25m (£15.9m) over the period.

Last year's joint highest earners, Angelina Jolie and Sarah Jessica Parker, were in fourth and seventh place, with $20m (£12.7m) and $15m (£9.5m) respectively. The most notable newcomer was Bridesmaids' Kristen Wiig, who eighth with $12m (£7.6m).

"Women are still paid less than men in the movie business," wrote Forbes' Dorothy Pomerantz. "The 10 actresses who make up our list earned a total of $200m (£127m) compared to the $361m (£229m) brought in by our top 10 men."

Stewart would have been fourth on a combined list, according to Forbes' figures for male stars last year. Only Leonardo DiCaprio ($77m [£49m]), Johnny Depp ($50m [£32m]) and Adam Sandler ($40m [£25m]) currently earn more than she does, according to the magazine's estimates.