Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 418

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 418
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 of the 1940 Act and Rule 17j-1 thereunder. Each Code of Ethics establishes procedures for personal investing and restricts certain transactions. Employees subject to a Code of Ethics
may invest in securities for their personal investment accounts, including making investments in securities that may be purchased or held by a Fund. The Codes of Ethics are available on the EDGAR Database on the SEC’s website at www.sec.gov.

Copies of the Codes of Ethics may be obtained, after paying a duplicating fee, by electronic request at the following e-mail address: publicinfo@sec.gov.

Proxy Voting Policy

The Board of each Fund has delegated the voting of proxies for a Fund’s securities to the Manager pursuant to the Closed-End Fund Proxy Voting Policy. The Manager has adopted the BlackRock Active Investment Stewardship - Global Engagement and Voting Guidelines (the “BAIS Guidelines”) with respect to certain funds,
including the Fund.

Copies of the Closed-End Fund Proxy Voting Policy and the
BAIS Guidelines are attached as Appendix B to this Prospectus.

Information on how the Fund voted proxies relating to
portfolio securities during the most recent 12-month period ended June 30 is available (i) without charge, upon request, by calling (800) 882-0052, (ii) at
www.blackrock.com and (iii) on the SEC’s website at http://www.sec.gov.

FINANCIAL STATEMENTS

The financial statements of the Acquiring Fund for the fiscal year ended July 31, 2024 are incorporated by
reference herein to the Acquiring Fund’s annual report filed on Form N-CSR on October 3, 2024. The
financial statements of the Acquiring Fund for the six-month period ended January
31, 2025 are incorporated by reference herein to the Acquiring Fund’s semi-annual report filed on Form
N-CSR on April 7, 2025.

The financial statements of MVT for the fiscal year
ended July 31, 2024 are incorporated by reference herein to MVT’s annual report filed on
Form N-CSR on October 3, 2024. The financial statements of MVT for the six-month period ended January 31, 2025 are incorporated by reference herein to
MVT’s semi-annual report filed on Form N-CSR on April 7, 2025.

The financial statements of MIY for the fiscal year ended July 31, 2024 are incorporated by reference herein