Shell script; backup mysql db monthly

This is a shell script I use to dump my databases monthly.

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thedate=`/bin/date +%D | /usr/bin/tr "/" "-"`
cd $HOME/dumps/monthly

/usr/bin/mysqldump -hlocalhost -u (username) -p(password) (database name) > (database name).dump.$thedate

gzip (database name).dump.$thedate