Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 87

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 87
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 credit quality borrowers or otherwise, as well as other factors. Accordingly, while duration maybe a useful tool
to estimate potential price movements in relation to changes in interest rates, investors are cautioned that duration alone will not predict actual changes in the net asset or market value of the Acquiring Fund’s shares and that actual price
movements in the Acquiring Fund’s portfolio may differ significantly from duration-based estimates. Duration differs from maturity in that it takes into account a security’s yield, coupon payments and its principal payments in addition
to the amount of time until the security finally matures. As the value of a security changes over time, so will its duration. Prices of securities with longer durations tend to be more sensitive to interest rate changes than securities with shorter
durations. In general, a portfolio of securities with a longer duration can be expected to be more sensitive to interest rate changes than a portfolio with a shorter duration. Any decisions as to the targeted duration or maturity of any particular
category of investments or of the Acquiring Fund’s portfolio generally will be made based on all pertinent market factors at any given time. The Acquiring Fund may incur costs in seeking to adjust the portfolio’s average duration or
maturity. There can be no assurances that the Investment Advisor’s assessment of current and projected market conditions will be correct or that any strategy to adjust the portfolio’s duration or maturity will be successful at any given
time.

Leverage Risk.The use of leverage creates an opportunity for increased common share net investment income dividends,
but also creates risks for the holders of common shares. The Acquiring Fund cannot assure you that the

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use of leverage, if employed, will result in a higher yield on the common shares. Any leveraging strategy the Acquiring Fund employs may not be successful. Leverage involves risks and special considerations for common shareholders, including:

| (1) | the likelihood of greater volatility of NAV, market price and dividend rate of the common shares than a 
 comparable portfolio without leverage;                                                                  |

| (2) | the risk that fluctuations in interest rates or dividend rates on any leverage that the Acquiring Fund must 
 pay will reduce the return to the common shareholders;                                                      |

| (3) | the effect of leverage in a declining market, which is likely to cause a greater decline in the NAV of the                                   
 common shares than if the Acquiring Fund were not leveraged, which may result in a greater decline in the market price of the common shares; |

| (4) | when the Acquiring Fund uses financial