The Collaborative International Dictionary of English v.0.48:

Laud \Laud\, n. [L. laus, laudis. See Laud, v. i.]
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   1. High commendation; praise; honor; exaltation; glory. "Laud
      be to God." --Shak.
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            So do well and thou shalt have laud of the same.
                                                  --Tyndals.
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   2. A part of divine worship, consisting chiefly of praise; --
      usually in the pl.
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   Note: In the Roman Catholic Church, the prayers used at
         daybreak, between those of matins and prime, are called
         lauds.
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   3. Music or singing in honor of any one.
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The Collaborative International Dictionary of English v.0.48:

Laud \Laud\, v. i. [imp. & p. p. Lauded; p. pr. & vb. n.
   Lauding.] [L. laudare, fr. laus, laudis, praise. Cf.
   Allow.]
   To praise in words alone, or with words and singing; to
   celebrate; to extol.
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         With all the company of heaven, we laud and magnify thy
         glorious name.                           --Book of
                                                  Common Prayer.
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WordNet (r) 3.0 (2006):

laud
    v 1: praise, glorify, or honor; "extol the virtues of one's
         children"; "glorify one's spouse's cooking" [syn: laud,
         extol, exalt, glorify, proclaim]