Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 75

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 75
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 is required to begin to segregate liquid assets with the Fund’s custodian to fund the redemption. In addition, the applicable Fund is required to redeem certain of its outstanding VMTP Shares if it fails to comply with certain asset coverage, basic maintenance amount or leverage requirements. Dividends on MVT’s and MVF’s VMTP Shares are declared daily and payable monthly at a variable rate set weekly at a fixed rate spread to the Securities Industry and Financial Markets Association Municipal Swap Index. The fixed spread is determined based on the long-term preferred share rating assigned to the VMTP Shares by the ratings agencies then rating the VMTP Shares. As of July 31, 2025, the VMTP Shares of each of MVT and MVF have a long-term rating of Aa1 from Moody’s and AA from Fitch. The dividend rate on the MVT and MVF VMTP Shares 34

is subject to a step-up spreadif the applicable Fund fails to comply with certain provisions, including, among other things, the timely payment of dividends, redemptions or gross-up payments,and complying with certain asset coverage and leverage requirements. The annualized dividend rate of the MVT and MVF VMTP Shares for the twelve-month period ended January 31, 2025 were as follows:

| Fund |     | Rate  |
| MVT  |     | 4.69% |
| MVF  |     | 4.69% |

MVT’s and MVF’s VMTP Shares are subject to certain restrictions on transfer, and the applicable Fund may also be required to register its VMTP Shares for sale under the Securities Act under certain circumstances. In addition, amendments to MVT’s and MVF’s VMTP Shares’ governing documents generally require the consent of the holders of VMTP Shares. For each of MVT and MVF, its VMTP Shares rank prior its common shares as to the payment of dividends by the applicable Fund, and distribution of assets upon dissolution or liquidation of the applicable Fund. For MVT and MVF, the 1940 Act prohibits the declaration of any dividend on the applicable Fund’s common shares or the repurchase of the Fund’s common shares if the Fund fails to maintain asset coverage of at least 200% of the liquidation preference of its outstanding VMTP Shares. In addition, pursuant to the VMTP Shares’ governing instruments, MVT and MVF are restricted from declaring and paying dividends on classes of shares ranking junior to or on parity with the applicable Fund’s