Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 191

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 191
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 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 AAA, AA, A and BBB) or Fitch (currently AAA, AA, A and BBB). In the case of short-term notes, the investment grade rating
categories are SP-1+ through SP-2 for S&P, MIG-1 through MIG-3 for Moody’s and F-1+ through F-3 for Fitch. In the case of tax-exempt commercial paper, the investment grade rating categories are A-1+ through A-3 for S&P, P-1 through P-3 for Moody’s and F-1+ through F-3 for Fitch. Obligations ranked in