MULTIPLY X BY Y GIVING Z
is any more readable than
Z = X * Y
To anybody with sufficient knowledge of math and programming, the second is actually more readable, because it's easier to discern what the values are and where the operators are. Assuming you aren't using simple variable names, but rather more descriptive terms, look at the following.
MULTIPLY LENGTH BY WIDTH GIVING AREA
AREA = LENGTH * WIDTH
In the first option, everything is a word, making it hard for your eyes to pick out exactly what's going on. But in the second one, you know right away that you are dealing with AREA, LENGTH, and WIDTH. You know you are dealing with an assignment looking at the start of the statement, and it's easy to see that you are multiplying.