The Brazilian government allows CSN to pay their shareholders an interest payment on the yearly dividend they pay to stockholders; i.e. you get a check for the dividend and one for the interest paid because the company held onto your dividend for a full year. The tax you then pay is on the interest payment portion. For the fiscal year 2010, the tax was 2.89% of the total paid to me for the yearly dividend plus interest payments. So for every $100 in dividend money paid, you returned the tax of $2.89 to the Brazil government.
The typical US stock company pays dividends quarterly and does not pay you any interest for holding your money for a few extra weeks between end of quarter and payment dates. The US companies end up holding your money for a couple of months per year (say two week every quarter) and you get no interest payment for that "service." Brazilian company/dividend rules are much more shareholder friendly IMO.