Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 217

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 217
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 from the issuance of preferred stock), and the proceeds of any borrowings for investment purposes, in a portfolio of municipal obligations issued by or on behalf of states, territories and possessions of the United States and their
political subdivisions, agencies or instrumentalities, each of which pays interest that, in the opinion of bond counsel to the issuer, is excludable from gross income for federal income tax purposes (except that the interest may be includable in
taxable income for purposes of the Federal alternative minimum tax) (“”). MVF may invest directly in securities or synthetically through the use of derivatives. There can be no assurance that MVF’s investment
objective will be realized.

MVF may invest up to 20% of its managed assets in securities that are rated below investment grade, or are considered by the
Investment Advisor to be of comparable quality, at the time of purchase, subject to MVF’s other investment policies. Bonds of below investment grade quality are regarded as having predominantly speculative characteristics with respect to the
issuer’s capacity to pay interest and repay principal. Such securities, sometimes referred to as “high yield” or “junk” bonds, are predominantly speculative with respect to the capacity to pay interest and repay principal in
accordance with the terms of the security and generally involve a greater volatility of price than securities in higher rating categories. Below investment grade securities and comparable unrated securities involve substantial risk of loss, are
considered speculative with respect to the issuer’s ability to pay interest and any required redemption or principal payments and are susceptible to default or decline in market value due to adverse economic and business developments.

MVF’s investment objective and its policy of investing at least 80% of an aggregate of MVF’s net assets (including proceeds from the issuance of any
preferred stock) and the proceeds of any borrowings for investment purposes, in MVF Municipal Bonds are fundamental policies that may not be changed without the approval of the holders of a majority of the outstanding common stock and the
outstanding preferred shares, including the VMTP Shares, voting together as a single class, and of the holders of a majority of the outstanding preferred shares, including the VMTP Shares, voting as a separate class. A majority of the outstanding
means (1) 67% or more of the stock present at a meeting, if the holders of more than 50% of the outstanding stock are present or represented by proxy, or (2) more than 50% of the outstanding stock, whichever is less.

MVF