Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 267

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 267
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 to Common Shareholders, end of year (000)                         |     | $                   | 1,009,375 |   |     | $ | 952,810 |    |     | $ | 985,594 |    |     | $ | 1,053,232 |   |     | $ | 1,003,621 |   |
| VRDP Shares outstanding at $100,000 liquidation value, end of year (000)                |     | $                   |   356,400 |   |     | $ | 356,400 |    |     | $ | 356,400 |    |     | $ |   356,400 |   |     | $ |   356,400 |   |
| Asset coverage per VRDP Shares at $100,000 liquidation value, end of year               |     | $                   |   383,214 |   |     | $ | 367,343 |    |     | $ | 376,541 |    |     | $ |   395,520 |   |     | $ |   381,600 |   |
| Borrowings outstanding, end of year (000)                                               |     | $                   |   246,471 |   |     | $ | 261,702 |    |     | $ | 252,930 |    |     | $ |   261,803 |   |     | $ |   244,245 |   |
| Portfolio turnover rate                                                                 |     |                     |        23 | % |     |   |      22 | %  |     |   |      16 | %  |     |   |        10 | % |     |   |        11 | % |

| (a) | Based on average Common Shares outstanding. |

| (b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |

| (c) | Total returns based on market price, which can be significantly greater or less than the net asset value, may                                                                       
 result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |

| (d) | Interest expense, fees and amortization of offering costs related to TOBs and/or VRDP Shares. See Note 4 and 
 Note 10 of the Notes to Financial Statements for details.                                                    |

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DIVIDENDS AND