Toronto Stock Exchange: G          New York Stock Exchange: GG
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    (All Amounts in $US unless stated otherwise)

VANCOUVER - GOLDCORP INC. (TSX: G) (NYSE: GG) announced today that its Board of Directors has authorized an increase in the annual dividend to $0.40 per common share, an increase of 11%. A dividend of $0.0333 per common share per month will be payable to shareholders of record as of March 17, 2011. Goldcorp is the only gold producer to pay a monthly dividend. The increase is being driven by increasing cash flows due to growing gold production and a continued strong metals market.

Goldcorp is one of the world's fastest growing senior gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.