Schools have always had the top student give a speech to the graduating class and this person is called a valedictorian. Schools are now allowing multiple students with top grades to address the graduating class- these people are polydictorians (i.e one school with 175 graduates had 14 valedictorians)
Fred was dissapointed when he was moved to position of polydictorian rather than valedictorian when 12 other classmates attained the same grade point average that he had.