Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 187

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 187
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 the settlement of securities transactions which otherwise might require untimely dispositions of MVT securities.

MIY’s Investment Objective and Policies

MIY’s investment objective is to provide shareholders with as high a level of
current income exempt from U.S. federal and Michigan income taxes as is consistent with its investment policies and prudent investment management. MIY seeks to achieve its investment objective by investing at least 80% of an aggregate of MIY’s
net assets including proceeds from the issuance of any 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 and Michigan income taxes (except
that the interest may be includable in taxable income for purposes of the federal alternative minimum tax) (“MIY Municipal Bonds”). MIY may invest directly in securities or synthetically through the use of derivatives. MIY’s
investment objective and its policy of investing at least 80% of an aggregate of MIY’s net assets (including proceeds from the issuance of any preferred stock) and the proceeds of any borrowings for investment purposes, in MIY Municipal Bonds
are fundamental policies that may not be changed without the approval of a majority of the outstanding voting securities of MIY (as defined in 1940 Act, as amended). There can be no assurance that MIY’s investment objective will be realized.

MIY may invest in certain tax-exempt securities classified as PABs (in general, bonds that
benefit nongovernmental entities) that may subject certain investors in MIY to an alternative minimum tax. The percentage of MIY’s total assets invested in PABs will vary from time to time. MIY also will not invest more than 25% of its total
assets (taken at market value at the time of each investment) in MIY Municipal Bonds whose issuers are located in the same state.

Under
normal market conditions, MIY expects to invest at least 75% of its total assets in a portfolio of long-term MIY Municipal Bonds that are commonly referred to as “investment grade” securities, which are obligations rated at the time of
purchase within the four highest-quality ratings as determined by either Moody’s (currently Aaa, Aa, A and Baa), S&P (currently