Abstract: A pigment dispersion and its use for the preparation of coating compounds are described. The dispersion contains a pigment, solvent and pigment dispersing agent. The pigment dispersing agent is a copolymer containing OH groups, obtainable by the reaction of:(A) 80 to 95% by weight of a copolymer of:(a) 0.5 to 40% by weight of N,N-di-Cl to 4-alkylamino-C.sub.1 to .sub.8 -alkyl(meth)acrylamides and/or a mixture of N,N-di-C to 4-alkylamino-C.sub.1 to 8 -alkyl(meth)acrylates and N-substituted (meth)acrylamides and/or (meth)acrylamide in which the ratio of amino(meth)acrylates to amido(meth)acrylates should be in the range of from 1:2 to 2:1,(b) 10 to 40% by weight of hydroxy-C.sub.2-8 -alkyl (meth)acrylates and(c) 20 to 89.5% by weight of copolymerizable, .alpha., .beta.-olefinically unsaturated compounds with(B) 5 to 20% by weight of a polyisocyanate containing unmasked and optionally also masked isocyanate groups as well as biuret, urethane or isocyanurate groups.