6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 _________________

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

Date: October 22, 2003

GOLDCORP INC.(Registrant's Name)

145 King Street West, Suite 2700
Toronto, Ontario MSH 1J8
CANADA
(Registrant's Address)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F          Form 40-F

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes      No  

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

GOLDCORP INC.

By: /s/ R. Gregory Laing              
Name: R. Gregory Laing
Title: Vice President, Legal

Date: October 22, 2003

EX-1

 

NEWS RELEASE

GOLDCORP INCREASES DIVIDEND AGAIN - BY 20%
NOW PAYABLE MONTHLY

(All dollar amounts in United States dollars (US$))

Toronto, October 21, 2003 - GOLDCORP INC. (GG:NYSE; G:TSX) is pleased to announce its intention to increase its total annual dividend payment by 20% (twenty per cent) to US$0.18 per share from US$0.15 per share. The frequency of the dividend payments will also increase from 6 times to 12 times per year - that is, dividends will now be paid monthly!

Year to date, 2003 shareholders have received 5 bi-monthly payments of $0.025 per share for a total of $0.125 per share. The intention is that during the remainder of 2003 shareholders will receive 2 additional monthly dividend payments of $0.015 per share. The first of these will be declared in the near future. The first full year of monthly dividend payments will be 2004.

Goldcorp believes that gold is in a bull market and has continued to state its intention to increase its dividend payment as the gold price rises. With the gold price now recently reaching levels not seen in more than 7 years, the Company is extremely pleased to be able to deliver on this promise. Dividend payments were initiated in February 2001 after the Red Lake Mine successfully began commercial production. Since that time Goldcorp has increased the dividend payment four times for a total increase of 260%.

Goldcorp's Red Lake Mine is the richest gold mine in the world. The Company is in excellent financial condition: has NO DEBT, a Large Treasury and Strong Cash Flow and Earnings. GOLDCORP is completely UNHEDGED. Goldcorp's shares are listed on the New York and Toronto Stock Exchanges under the trading symbols of GG and G, respectively and its options trade on the American Stock Exchange (AMEX), the Chicago Board of Options Exchange (CBOE) and the Pacific Stock Exchange (PCX) in the United States and on the Montreal Exchange (MX) in Canada.

Gold is better than Money, Goldcorp is Gold!

For further information, please contact:	Corporate Office:
Chris Bradbrook	145 King Street West
Vice President, Corporate Development	Suite 2700
Telephone: (416) 865-0326	Toronto, Ontario
Fax: (416) 361-5741	M5H 1J8
e-mail: info@goldcorp.com	website: www.goldcorp.com