Award. As usual in English this word can be used in the same form as a noun (USSK has received a prestigious award), as a verb (the film was awarded five Oscars), or as an adjective (an award-winning performance, the awards-presentation ceremony).

It's not a problem to translate the noun "ocenenie" as "an award", but it's necessary to be careful when translating the verb "oceniť", because in English you can't simply "award somebody", you have to award SOMETHING to somebody, or award somebody SOMETHING. So: the court awarded him 5000 EUR in damages (odškodné), or: we award the booby-prize to the person who finishes last.