PURPOSE: To prepare an aqueous dispersion useful for coating of paper, synthetic resin films, etc., and giving excellent heat sealability, anti-block properties, etc., by dispersing a copolymer of ethylene and a specific ethylenic unsaturated carboxylic acid together with a wax in water.

CONSTITUTION: An aqueous dispersion having a solid content of 20W60wt.% is prepared by dispersing (A) a copolymer consisting of (a) 99W85 mole % of ethylene and (b) 1W15 mole % of an α, β-ethylenic unsaturated carboxylic acid [e.g. methyl (meth) acrylate, etc.], wherein at least 10% of the acid is neutralized with a metal ion, e.g. sodium, potassium, etc., and/or ammonium ion, together with (B) 0.5W5 parts by weight, on the basis of 100 parts by weight of (A), of a wax