The only salvage ship I have heard of with that name was H.M.S. Dispencer, of a 9 ship R.N. class of salvage ships. She was built about 1943. Dont know what happened to her or her sisters. Perhaps she was sold out of Service and carried on in a civillian role.
Don't know much about the vessel, but there was a Salvage vessel called the 'Dispenser' involved in the refloating of a Steeel & Bennie tug 'Cruiser' and a Kelly Coater called the 'Ballyhalbert' near Ardrossan in January 1958. I believe she arrived off Ardrossan 14-1-58 and was there for around 3 weeks. Willie