A dispersion composition for black matrixes which comprises: manganese oxide having an average particle diameter of 50 to 2,000 nm or a manganese oxide/ferric oxide solid solution having an average particle diameter of 50 to 2,000 nm and a manganese content of 15 to 70 wt.%; a water-compatible acrylic resin; at least one dispersant selected from the group consisting of sodium, ammonium, or potassium salts of water-compatible acrylic resins and sodium, ammonium, or potassium salts of polycarboxylic acids, lignosulfonic acid, or bisphenolsulfonic acids; and water or a mixture of water and an organic solvent compatible therewith. The dispersion composition is highly effective in diminishing reflection by a light-absorbing layer on its surface in contact with a panel. Thus, a display, such as a color cathode-ray tube, can have a display surface on which external light is less apt to be reflected.