Translation:Duo gives the queen twenty camels.
As a verb, it's generally in a more formal or legal context. A company might gift an employee 1000 shares. It has tax consequences, and "give" would be the wrong word.
I suppose that the technical distinction is that I can give you something that's not a gift. I can give you a spoon, and expect you to eat with it, but not keep it. But if I gift you a spoon, you get to keep it. So the legal distinction is important, while in everyday conversation, it probably won't matter.
I wouldn't really equate "schenken" with "presenting." "Presenting" someone with something doesn't necessarily mean it's a gift, and "presenting" definitely sounds more ceremonious than "schenken." The best translation is just "gives" or, if you want to be explicit, "give [something] as a gift."
Sure, that's an accurate answer, but "bestow upon" is an extremely rare phrasing in today's English, and there's nothing "more appropriate" about it than other phrasings like "give (as a gift)." In most situations, where a German speaker would say "schenken" an English speaker would say "give."