Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 215

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 215
---
 taxable income.

MVF
also may not invest more than 25% of its total assets (taken at market value at the time of each investment) in MVF Municipal Bonds whose issuers are located in the same state.

The average maturity of MVF’s portfolio securities varies from time to time based upon an assessment of economic and market conditions
by the Investment Advisor. MVF’s portfolio at any given time may include both long-term, intermediate-term and short-term MVF Municipal Bonds.

MVF’s stated expectation is that it will invest in MVF Municipal Bonds that, in the Investment Advisor’s opinion, are underrated
or undervalued. Underrated MVF Municipal Bonds are those whose ratings do not, in the opinion of the Investment Advisor, reflect their true higher creditworthiness. Undervalued MVF Municipal Bonds are bonds that, in the opinion of the Investment
Advisor, are worth more than the value assigned to them in the marketplace. The Investment Advisor may at times believe that bonds associated with a particular municipal market sector (for example, but not limited to electric utilities), or issued
by a particular municipal issuer, are undervalued. The Investment Advisor may purchase those bonds for MVF’s portfolio because they represent a market sector or issuer that the Investment Advisor considers undervalued, even if the value of
those particular bonds appears to be consistent with the value of similar bonds. MVF Municipal Bonds of particular types (for example, but not limited to hospital bonds, industrial revenue bonds or bonds issued by a particular municipal issuer) may
be undervalued because there is a temporary excess of supply in that market sector, or because of a general decline in the market price of MVF Municipal Bonds of the market sector for reasons that do not apply to the particular MVF Municipal Bonds
that are considered undervalued. MVF’s investment in underrated or undervalued MVF Municipal Bonds will be based on the Investment Advisor’s belief that their yield is higher than that available on bonds bearing equivalent levels of
interest rate risk, credit risk and other forms of risk, and that their prices will ultimately rise, relative to the market, to reflect their true value. Any capital appreciation realized by MVF will generally result in capital gain distributions
subject to federal capital gains taxation.

MVF ordinarily does not intend to realize significant investment income not exempt from
federal income tax. From time to time, MVF may realize taxable capital gains.

Federal tax legislation has limited the types and volume of
bonds the interest on