Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 254

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 254
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, and distribution of assets upon dissolution or liquidation of the applicable Fund. For MVT and MVF, the 1940 Act prohibits the declaration of any dividend on the applicable Fund’s common shares
or the repurchase of the Fund’s common shares if the Fund fails to maintain asset coverage of at least 200% of the liquidation preference of its outstanding VMTP Shares. In addition, pursuant to the VMTP Shares’ governing instruments,
MVT and MVF are restricted from declaring and paying dividends on classes of shares ranking junior to or on parity with the applicable Fund’s VMTP Shares or repurchasing such shares if the Fund fails to declare and pay dividends on the VMTP
Shares, redeem any VMTP Shares required to be redeemed under the VMTP Shares’ governing instrument or comply with the basic maintenance amount requirement of the ratings agencies rating the VMTP Shares.

The holders of MVT’s and MVF’s VMTP Shares have voting rights equal to the voting rights of the holders of its
common shares (one vote per share) and will vote together with holders of its common shares (one vote per share) as a single class on certain matters. However, the VMTP Shareholders, voting as a separate class, are also entitled to elect two
directors to the Board of the applicable Fund. VMTP Shareholders are also entitled to elect the smallest number of directors onto the applicable Fund’s board of directors that would constitute a majority if dividends on the VMTP Shares are not
paid for a period of two years. VMTP Shareholders are also generally entitled to a separate class vote to amend the VMTP Shares’ governing document as long as such amendment does not adversely affect the rights of holders of other classes of
shares. In addition, the 1940 Act requires the approval of the holders of a majority of any outstanding VMTP Shares, voting as a separate class, to (a) adopt any plan of reorganization that would adversely affect the VMTP Shares,
(b) change the respective fund’s sub-classification as a closed-end investment company or change its fundamental investment restrictions or
(c) change its business so as to cease to be an investment company.

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FINANCIAL HIGHLIGHTS

The Financial Highlights table is intended to help you understand MVT’s financial performance for the periods shown.
Certain information reflects the financial results for a single common share of MVT. The total returns in the table represent the rate an investor would have earned or lost on an investment in MVT (assuming reinvestment