Indeed it does. It helps with many things. It enables you to be able to speak better because you keep tripping over the less than obvious mistakes due to you reading one word at a time. It also enables you to find even more mistakes than usual. A lot of people just skim over those types of errors though, but it feels nice to fix it anyway. Going back to the "it helps you speak better topic" it really does. Especially if you need to practice for a speech. Speak out loud, not in your mind. It also helps you pick what type of tone you want before speaking to a crowd. You don't want to sound flat and boring, or like you're reading off of a script(You are, but I think you get my point. So many people make this mistake). It also helps you become a better storyteller in both the writing and speaking aspect. You don't want to make people fall asleep when you're telling a story about adventure, and you don't want to scare children when you're reading Goldilocks and the Three Bears. It's okay to read out loud. Just don't practice with other people around or they'll tell you to shut up.