/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Dec 16, 2016) - PineBridge Investment Grade Preferred Securities Fund (TSX:PRF.UN) (the "Fund") announced today a regular cash distribution for the month of January along with a special distribution.

The Fund has declared a regular monthly distribution for the month of January of $0.125 per unit, payable on or about January 13, 2017 to unitholders of record on December 30, 2016.

The Fund has also declared a special distribution estimated to be $0.160 per unit (the "Special Distribution") payable on or about January 13, 2017 to unitholders of record on December 31, 2016. The Special Distribution will be paid in the form of units.

Immediately following payment of the Special Distribution, the number of outstanding units of the Fund will be automatically consolidated such that each unitholder will hold, after the consolidation, the same number of units as the unitholder held before the Special Distribution, except in the case of a non-resident unitholder to the extent tax was required to be withheld in respect of the distribution. The Special Distribution was declared because the net income of the Fund for tax purposes (including the full amount of net realized capital gains) exceeds the aggregate amount of regular monthly distributions paid or payable in 2016.

Further information about PineBridge Investment Grade Preferred Securities Fund can be found at www.bmocm.com/investorsolutions under "Closed-End Funds".