Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 253

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 253
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,000 |   |     | $ | 140,000 |   |
| Asset coverage per VMTP Shares at $100,000 liquidation value, end of year                                   |     | $                    | 326,553 |   |     | $ | 324,472 |    |     | $ | 329,956 |    |     | $ | 343,395 |   |     | $ | 340,229 |   |
| Borrowings outstanding, end of year (000)                                                                   |     | $                    |  47,982 |   |     | $ |  61,343 |    |     | $ |  60,575 |    |     | $ |  69,195 |   |     | $ |  66,439 |   |
| Portfolio turnover rate                                                                                     |     |                      |      25 | % |     |   |      11 | %  |     |   |       9 | %  |     |   |       6 | % |     |   |      10 | % |

| (a) | Based on average Common Shares outstanding. |

| (b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |

| (c) | Total returns based on market price, which can be significantly greater or less than the net asset value, may                                                                       
 result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |

| (d) | Interest expense, fees and amortization of offering costs related to TOB Trusts and/or VMTP Shares. See Note 4 
 and Note 10 of the Notes to Financial Statements for details.                                                  |

147

The Financial Highlights table is intended to help you understand MIY’s financial performance for the periods shown. Certain information
reflects the financial results for a single common share of MIY. The total returns in the table represent the rate an investor would have earned or lost on an investment in MIY (assuming reinvestment of all dividends and/or distributions, if
applicable). The information for the six-month period ended January 31, 2025 is unaudited. The information for the remaining periods shown has been audited by Deloitte & Touch LLP, MIY’s
independent registered public accounting firm. Financial statements for the fiscal year ended July 31, 2024 and the Report of