Company: MYI
Filing Date: 2025-07-15
Form Type: 425
Source: 0001193125-25-159406
Chunk: 32

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-15
Form: 425
Chunk 32
---
 officers or named portfolio managers intends to tender any Shares pursuant to the Offer. Therefore, the Fund does not intend to purchase Shares from any officer or director pursuant to the Offer. Based on the number of Shares outstanding as of July 8, 2025, to the best of the Fund’s knowledge, no person beneficially owned more than 5% of the outstanding Shares of the Fund, except for the following:

| Shareholder Name & Address            |     | Class of Shares |     | Share Holdings |            |     | Percentage Owned |       |   |
| Karpus Management, Inc.(1)            
 183 Sully’s Trail                     
 Pittsford, New York 14534             |     | Common Stock    |     |                | 10,331,144 |     |                  | 17.57 | % |
| RiverNorth Capital Management, LLC(2) 
 360 S. Rosemary Avenue, Ste. 1420     
 West Palm Beach, Florida 33401        |     | Common Stock    |     |                |  3,269,092 |     |                  |  5.42 | % |

| (1) | Based on information obtained from a Schedule 13G/A filed with the Commission on May 14, 2025. |

| (2) | Based on information obtained from a Schedule 13G/A filed with the Commission on May 15, 2025. |

BlackRock Advisors, LLC acts as the investment adviser for the Fund. Pursuant to an investment management agreement between the Investment Advisor and the Fund (the “Investment Management Agreement”), the Fund pays the Investment Advisor a monthly fee at an annual rate of 0.50% of the Fund’s average daily net assets. For purposes of calculating this fee, “net assets” mean the total assets of the Fund minus the sum of its accrued liabilities (which does not include liabilities represented by TOB Trusts and the liquidation preference of any outstanding preferred shares). The liquidation preference of any outstanding preferred stock (other than accumulated dividends) and TOB Trusts is not considered a liability in determining the Fund’s NAV. With respect to the Fund, effective May 1, 2024, the Investment Advisor voluntarily agreed to waive a portion of its investment advisory fee attributable to the Fund’s outstanding preferred shares for each month in which the monthly dividend on the Fund’s preferred shares exceeds the calculated value of the Fund’s gross monthly income attributable to investments from the proceeds of the preferred shares