Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 121

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 121
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 Additionally, in a declining market, portfolio turnover may create realized capital losses.

Anti-Takeover Provisions Risk. The Acquiring Fund’s Articles of Incorporation and Bylaws include provisions that could limit the ability of other entities or persons to acquire control of the Acquiring Fund or convert the Acquiring Fund to open-end status or to change the composition of the Board. Such provisions could limit the ability of shareholders to sell their shares at a premium over prevailing market prices by discouraging a third party from
seeking to obtain control of the Acquiring Fund. See “Certain Provisions in the Articles of Incorporation and Bylaws of the Acquiring Fund.”

Shareholder Activism Risk. Shareholder activism involving closed-end funds has recently been
increasing. Shareholder activism can take many forms, including engaging in public campaigns to demand that the Acquiring Fund consider significant transactions such as a tender offer, merger or liquidation or to attempt to influence the Acquiring
Fund’s corporate governance and/or management, commencing proxy contests to attempt to elect the activists’ representatives or others to the Acquiring Fund’s Board, or to seek other actions such as a termination of the Acquiring
Fund’s investment advisory contract with its current investment manager or commencing litigation. If the Acquiring Fund becomes the subject of shareholder activism, then management and the Board may be required to divert significant resources
and attention to respond to the activist and the Acquiring Fund may incur substantial costs defending against such activism if management and the Board determine that the activist’s demands are not in the best interest of the Acquiring Fund.
Further, the Acquiring Fund’s share price could be subject to significant fluctuation or otherwise be adversely affected by the events, risks and uncertainties of any shareholder activism.

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DESCRIPTION OF THE FUNDS

The Funds are each formed as a Maryland corporation and are each a diversified, closed-end management
investment company registered under the 1940 Act. Each Fund’s principal place of business is located at 100 Bellevue Parkway, Wilmington, Delaware 19809, and each Fund’s telephone number is (800)
882-0052.

MVT was incorporated as a Maryland corporation governed by the laws of the State of
Maryland on February 3, 1993, and commenced operations on March 29, 1993.

MIY was incorporated as a Maryland corporation
governed by the laws of the State of Maryland on June 30, 1992, and commenced operations on October 30, 1992.

MVF