Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 52

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 52
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 are variables which depend on many factors, including its asset mix, portfolio turnover level, the amount of leverage utilized by
the Fund, the costs of such leverage, the performance of its investments, the movement of interest rates and general market conditions. In addition, the Combined Fund’s future earnings will vary depending upon the combination of completed
Reorganizations. There can be no assurance that the future earnings of a Fund, including the Combined Fund after the Reorganizations, will remain constant.

18

Undistributed Net Investment Income If the Reorganizations are approved by shareholders, then the greater of (1) substantially all of the undistributed net investment income (previously defined as “UNII”), if any, or (2) the monthly distribution of each Fund is expected to be declared to such Fund’s common shareholders prior to the Closing Date (the “Pre-ReorganizationDeclared UNII Distributions”). The declaration date, ex-dividenddate (the “Ex-DividendDate”) and record date of the Pre-ReorganizationDeclared UNII Distributions will occur prior to the Closing Date. However, all or a significant portion of the Pre-ReorganizationDeclared UNII Distributions may be paid in one or more distributions to common shareholders of the Funds entitled to such Pre-ReorganizationDeclared UNII Distributions after the Closing Date. Former MVT, MIY and MVF shareholders entitled to such Pre-ReorganizationDeclared UNII Distributions paid after the Closing Date will receive such distributions in cash. Persons who purchase common shares of any of the Funds on or after the Ex-DividendDate for the Pre-ReorganizationDeclared UNII Distributions should not expect to receive any distributions from any Fund until distributions, if any, are declared by the Board of the Combined Fund and paid to shareholders entitled to any such distributions. No such distributions are expected to be paid by the Combined Fund until at least approximately one month following the Closing Date. Additionally, the Acquiring Fund, in order to seek to provide its common shareholders with distribution rate stability, may include in its Pre-ReorganizationDeclared UNII Distribution amounts in excess of its undistributed net investment income and net investment income accrued through the Closing Date. This would result in the Acquiring Fund issuing incrementally more common shares in the Reorganizations since its NAV as of the Valuation Time would be lower relative to a scenario where such excess amounts were not included in the Acquiring Fund’s Pre-ReorganizationDeclared UNII Distribution. To the extent any Pre-ReorganizationDeclared UNII Distribution is not an “exempt interest dividend” (as defined in