UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-08497 Name of Fund: BlackRock Corporate High Yield Fund III, Inc. (CYE) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Anne Ackerley, Chief Executive Officer, BlackRock Corporate High Yield Fund III, Inc., 40 East 52(nd) Street, New York City, NY 10022. Registrant's telephone number, including area code: (800) 882-0052, Option 4 Date of fiscal year end: 02/28 Date of reporting period: 07/01/2008 -- 06/30/2009 Item 1 -- Proxy Voting Record -- Attached hereto. Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BlackRock Corporate High Yield Fund III, Inc. By: /s/ Anne Ackerley Anne Ackerley Chief Executive Officer of BlackRock Corporate High Yield Fund III, Inc. Date: August 14, 2009 ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-08497 Reporting Period: 07/01/2008 - 06/30/2009 BlackRock Corporate High Yield Fund III, Inc. ================ BLACKROCK CORPORATE HIGH YIELD FUND III, INC. ================= AINSWORTH LUMBER CO LTD Ticker: ANS Security ID: 009037201 Meeting Date: MAY 13, 2009 Meeting Type: Annual/Special Record Date: APR 3, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert Chadwick For For Management 1.2 Elect Director Jay Gurandiano For For Management 1.3 Elect Director Paul Houston For For Management 1.4 Elect Director Richard Huff For For Management 1.5 Elect Director John Lacey For For Management 1.6 Elect Director Gordon Lancaster For For Management 1.7 Elect Director Jonathan I. Mishkin For For Management 2 Approve Deloitte & Touche LLP as For For Management Auditors and Authorize Board to Fix Their Remuneration 3 Approve Stock Option Plan For Against Management -------------------------------------------------------------------------------- AINSWORTH LUMBER CO LTD Ticker: ANS Security ID: C01023206 Meeting Date: MAY 13, 2009 Meeting Type: Annual/Special Record Date: APR 3, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert Chadwick For For Management 1.2 Elect Director Jay Gurandiano For For Management 1.3 Elect Director Paul Houston For For Management 1.4 Elect Director Richard Huff For For Management 1.5 Elect Director John Lacey For For Management 1.6 Elect Director Gordon Lancaster For For Management 1.7 Elect Director Jonathan I. Mishkin For For Management 2 Approve Deloitte & Touche LLP as For For Management Auditors and Authorize Board to Fix Their Remuneration 3 Approve Stock Option Plan For Against Management -------------------------------------------------------------------------------- GEO SPECIALTY CHEMICALS INC. Ticker: GSCQ Security ID: 37246R205 Meeting Date: NOV 19, 2008 Meeting Type: Annual Record Date: OCT 20, 2008 # Proposal Mgt Rec Vote Cast Sponsor 1 Elect Director Duncan H. Cocroft For For Management 2 Elect Director David L. Eaton For For Management 3 Elect Director Kenneth A. Ghazey For For Management 4 Elect Director Philip J. Gund For For Management 5 Elect Director Charles Macaluso For For Management 6 Elect Director Bradley E. Scher For For Management -------------------------------------------------------------------------------- LODGIAN, INC. Ticker: LGN Security ID: 54021P403 Meeting Date: APR 29, 2009 Meeting Type: Annual Record Date: MAR 12, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director John W. Allison For For Management 1.2 Elect Director W. Blair Allen For For Management 1.3 Elect Director Stewart J. Brown For For Management 1.4 Elect Director Peter T. Cyrus For For Management 1.5 Elect Director Paul J. Garity For For Management 1.6 Elect Director Michael J. Grondahl For For Management 1.7 Elect Director Alex R. Lieblong For For Management 1.8 Elect Director Mark S. Oei For For Management 2 Approve Reverse Stock Split For Against Management 3 Ratify Auditors For For Management ========== END NPX REPORT