Methods are provided for making base metal catalysts with improved activity. After forming catalyst particles based on a support comprising a zeolitic molecular sieve, the catalyst particles can be impregnated with a solution comprising a) metal salts (or other precursors) for a plurality of base metals and b) an organic dispersion agent comprising 2 to 10 carbons. The impregnated support particles can be dried to form a base metal catalyst, and then optionally sulfided to form a sulfided base metal catalyst. The resulting (sulfided) base metal catalyst can have improved activity for cloud point reduction and/or for improved activity for heteroatom removal, relative to a base metal dewaxing catalyst prepared without the use of a dispersion agent.