Company: MYI
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074486
Chunk: 14

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 14
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 maturity dates and/or bonds that are subject to potential calls by issuers over the next five years.                                                                                                                                                                                                               |
| (d) | For purposes of this report, credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Service,                                                                                                                                                               
 Inc. if ratings differ. These ratingagencies are independent, nationally                                                                                                                                                                                                                                                     
 recognized statistical rating organizations and are widely used. Investment grade ratings are credit ratings of BBB/Baa or higher. Below investment graderatings are credit ratings of BB/Ba or lower. Investments designated N/R are not rated by either rating agency. Unrated investments do not necessarily indicate low 
 credit quality. Credit qualityratings are subject to change.                                                                                                                                                                                                                                                                 |
| (e) | The investment adviser evaluates the credit quality of unrated investments based upon certain factors including, but not limited to, credit ratings for similar                                                                                                                                                              
 investments and financial analysis ofsectors and individual investments.                                                                                                                                                                                                                                                     
 Using this approach, the investment adviser has deemed certain of these unrated securities as investment grade quality. As of January 31, 2025, the marketvalue of unrated securities deemed by the investment adviser to be investment grade represents less than 1.0% of total investments.                                |

12 2025 BlackRock Semi-Annual Report to Shareholders

Fund Summary as of January 31, 2025 BlackRock MuniYield Quality Fund, Inc. (MQY)

Investment Objective BlackRock MuniYield Quality Fund, Inc. ’ s ( MQY ) (the “ Fund ”) investment objective is to provide shareholders with as high a level of current income exempt from U.S. federal income taxes as is consistent with its investment policies and prudent investment management. The Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal bonds exempt from U.S federal income taxes (except that the interest may be subject to the U.S. federal alternative minimum tax). The Fund invests in municipal bonds which are in the three highest quality rating categories (A or better), or which are deemed to be of comparable quality by the adviser, at the time of investment. The Fund invests primarily in long-term municipal bonds with maturities of more than ten years at the time of investment. The Fund may invest directly in such securities or synthetically through the use of derivatives. No assurance can be given that the Fund’s investment objective will be achieved. On January 20, 2025, the Board of Directors