Haukjóðs harða víða
(hôtt) norrœnar dróttir*
(Þundregns þeim of vandak)
þengils á bý gengu.
Óráð illri þjóðu
Óláfr of galt dála;
vígrunnr velja kunni
víkingum hlut slíkan.
Norrœnar dróttir* gengu harða víða á bý haukjóðs þengils; of vandak þeim hôtt Þundregns. Óláfr of galt dála illri þjóðu óráð; vígrunnr kunni velja víkingum slíkan hlut.
Norwegian troops placed themselves very widely in the homestead of the hawk-offspring [HAWK > HAND] of the ruler; I fashion for him the metre of Þundr’s <= Óðinn’s> rain [POETRY]. Óláfr thoroughly paid evil people for their misdeeds; the battle-tree [WARRIOR] was able to deal vikings such a fate.
[5] illri þjóðu ‘evil people’: Konráð Gíslason (1895-7) suggests that ‘evil people’ is a reference to pagans and their faith (cf. st. 9). However, it is more likely that it refers to the (unidentified) vikings mentioned in l. 8.