Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 161

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 161
---
 portfolio.

MVT may invest in certain tax exempt
securities classified as PABs (in general, bonds that benefit non-governmental entities) that may subject certain investors in MVT to an alternative minimum tax. The percentage of MVT’s total assets
invested in PABs will vary from time to time. MVT expects that a portion of the income it produces will be includable in alternative minimum taxable income. VMTP Shares therefore would not ordinarily be a suitable investment for investors who are
subject to the federal alternative minimum tax or who would become subject to such tax by purchasing VMTP Shares. The suitability of an investment in VMTP Shares will depend upon a comparison of the after-tax
yield likely to be provided from MVT with that from comparable tax-exempt investments not subject to the alternative minimum tax, and from comparable fully taxable investments, in light of each such
investor’s tax position. Special considerations may apply to corporate investors.

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

MVT’s stated expectation is that it will invest in MVT Municipal Bonds that, in the Investment Advisor’s
opinion, are underrated or undervalued. Underrated MVT Municipal Bonds are those whose ratings do not, in the opinion of the Investment Advisor, reflect their true higher creditworthiness. Undervalued MVT 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 MVT’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. MVT 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 MVT Municipal Bonds of the market sector for reasons that do not apply to the
particular MVT