Bestowal (noun)

1. The act of giving or conferring something as a gift or an honor.
2. The act of endowing or granting someone with a benefit or privilege.
3. The grant of a title, degree, or other formal recognition by a person or organization.

Origin:

Bestowal is derived from the old english word 'bestowian', meaning to grant or give.

Examples:

1. The bestowal of the Nobel Prize is a recognition of the laureate's exceptional achievements in science, literature, or peace.
2. The bestowal of the degree was a proud moment for the graduates and their families.
3. The bestowal of the title of royalty was a grand affair, with elaborate ceremonies and grand processions.
4. The bestowal of the scholarship was a life-changing opportunity for the young student.
5. The bestowal of the medal was a recognition of the soldier's bravery and sacrifice in the line of duty.