Company: MYI
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230138
Chunk: 6

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-10-03
Form: N-CSR
Chunk 6
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 change. A portion of the distribution may be deemed a return of capital or net realized gain.                                                                          |
| (d) | Represents VRDP Shares and TOB Trusts as a percentage of total managed assets, which is the total assets of the Fund, including any assets attributable to VRDP Shares                                                         
 and TOBTrusts, minus the sum of its accrued liabilities. Does not reflect                                                                                                                                                      
 derivatives or other instruments that may give rise to economic leverage. For a discussion of leveraging techniquesutilized by the Fund, please see The Benefits and Risks of Leveraging and Derivative Financial Instruments. |

Market Price and Net Asset Value Per Share Summary

|                      | 07/31/25 | 07/31/24 |   Change |   High |   Low |
| Closing Market Price |    $8.86 |   $10.41 | (14.89)% | $10.91 | $8.76 |
| Net Asset Value      |     9.50 |    10.73 |   -11.46 |  11.04 |  9.34 |

GROWTH OF $10,000 INVESTMENT (a) Represents the Fund’s closing market price on the NYSE and reflects the reinvestment of dividends and/or distributions at actual reinvestment prices. (b) A benchmark that is designed to track the USD-denominated long term tax-exempt bond market, including state and local general obligation bonds, revenue bonds, pre-refunded bonds, and insured bonds.

Fund Summary 5

Fund Summary as of July 31, 2025 (continued) BlackRock Long-Term Municipal Advantage Trust (BTA)

Performance Returns for the period ended July 31, 2025 were as follows:

|                                   | Average Annual Total Returns |         |          |
|                                   |                       1 Year | 5 Years | 10 Years |
| Fund at NAV(a)(b)                 |                      (6.06)% | (0.40)% |    2.81% |
| Fund at Market Price(a)(b)        |                        -9.70 |   -1.76 |     3.37 |
| Customized Reference Benchmark(c) |                        -0.22 |    0.67 |      N/A |
| Bloomberg Municipal Bond Index    |                         0.00 |    0.13 |     2.11 |

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted