BLACKROCK MUNIYIELD MICHIGAN QUALITY FUND, INC. (MIY)
The BlackRock MuniYield Michigan Quality Fund, Inc. is a closed-end investment vehicle specializing in fixed income securities. Established by BlackRock, Inc., its day-to-day management is handled by BlackRock Advisors, LLC. This fund primarily allocates its capital within the U.S. fixed income markets, focusing on high-quality, long-term municipal bonds specifically structured to provide exemption from both federal and Michigan state income taxes. The fund, which is legally based in the United States, commenced operations on October 30, 1992.
Industry: Asset Management
BlackRock MuniYield Michigan Quality Fund, Inc.
NYSE:MIYFinancial Services · Asset Management
+0.76%$11.89
AH Close$11.89+0.00%vs close
AH Close$11.89+0.00%vs close
Mkt Cap$344.58M
Float28.98M
O/S28.98M
Inst Own14.1%
SI0.3%
Div Yield5.50%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$26.84M
Net Income$30.73M
Total Assets$585.3M
Free Cash Flow$16.46M
Debt & Equity
Debt 40%
Equity 60%
Total Debt$231.59M
Total Equity$351.66M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in MIY's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$585.3M
Liabilities$233.64M
Accounts Receivable$6.19M
Accounts Payable$0
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | 2020-07-31 | 2019-07-31 | 2018-07-31 | 2017-07-31 | 2016-07-31 | 2015-07-31 | 2014-07-31 | 2013-07-31 |
| Revenue | $26.84M | $21.1M | $25.6M | -$4M | -$53.17M | $24.57M | $24.63M | $39.06M | $8.5M | -$2.91M | $29.29M | $19.32M | $36.46M | $20.75M |
| YoY Growth | 27.2% | -17.6% | -739.8% | -92.5% | -316.4% | -0.3% | -36.9% | 359.2% | -392.8% | -109.9% | 51.6% | -47.0% | 75.7% | - |
| Cost of Revenue | $3.04M | $2.96M | $7.02M | -$28.78M | $3.66M | $3.82M | $3.87M | $3.8M | $3.84M | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $23.8M | $25.86M | $18.58M | $24.78M | -$56.83M | $20.75M | $20.77M | $35.26M | $4.67M | -$2.91M | $29.29M | $19.32M | $36.46M | $20.75M |
| Gross Margin | 88.7% | 122.5% | 72.6% | -619.3% | 106.9% | 84.5% | 84.3% | 90.3% | 54.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | -$3 | -$2 | $1 | $1 | $1 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $3.33M | $299K | $311K | $313K | $284K | $5.54M | $1.24M | $385K | $384K | $4.14M | $2.65M | $258K | $2.59M |
| Other | -$15.02M | $0 | $0 | $6.49M | -$69.43M | $35K | $31K | $32K | $33K | $35K | $0 | $0 | $31K | $0 |
| Total Operating Expenses | -$15.02M | $3.33M | $185K | $343K | $345K | $319K | $1.86M | $1.27M | $418K | $419K | $24.01M | $2.36M | $290K | $39.18M |
| Operating Income (EBIT) | $38.82M | $22.53M | $22.39M | $21.37M | $21.29M | $24.25M | $22.77M | $37.79M | $25.99M | $1.21M | $25.15M | $16.67M | $36.17M | $18.16M |
| Operating Margin | 144.6% | 106.8% | 87.5% | -534.0% | -40.0% | 98.7% | 92.4% | 96.7% | 305.6% | -41.8% | 85.9% | 86.3% | 99.2% | 87.5% |
| Interest Expense | $7.92M | $0 | $10.23M | $8.89M | $3.4M | $2.76M | $4.01M | $6.08M | $5.73M | $4.54M | $2.73M | $1.57M | $1.61M | $1.77M |
| Interest Income | $26.7M | -$8.88M | $25.16M | $0 | $0 | $0 | $0 | $29.23M | $29.99M | $30.63M | $0 | $0 | $19.7M | $0 |
| Other Income (Expense) | -$8.09M | -$43.32M | -$4.07M | -$25.71M | -$74.8M | $1.3M | $19K | $13.38M | -$17.9M | -$29.91M | $25.42M | $3.43M | $18.93M | -$38.36M |
| Income Before Tax (EBT) | $30.73M | -$20.79M | $18.32M | -$4.34M | -$53.51M | $24.25M | $22.77M | $37.79M | $8.09M | -$3.32M | $50.57M | $20.1M | $36.17M | -$20.21M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17.46M | $0 | $26.58M | $0 | $0 | -$1.61M | $0 |
| Net Income | $30.73M | -$20.79M | $18.32M | -$4.34M | -$53.51M | $24.25M | $22.77M | $37.79M | $8.09M | -$3.32M | $50.57M | $20.1M | $36.17M | -$20.21M |
| Net Income Margin | 114.5% | -98.5% | 71.6% | 108.6% | 100.6% | 98.7% | 92.4% | 96.7% | 95.1% | 114.4% | 172.7% | 104.1% | 99.2% | -97.4% |
| Supplementary Data | ||||||||||||||
| EPS | 1.06 | -0.72 | 0.63 | -0.13 | -1.81 | 0.82 | 0.77 | 1.28 | 0.27 | -0.11 | 1.71 | 1.10 | 1.98 | -1.11 |
| Diluted EPS | 1.06 | -0.72 | 0.63 | -0.13 | -1.81 | 0.82 | 0.77 | 1.28 | 0.27 | -0.11 | 1.71 | 1.10 | 1.98 | -1.11 |
| Weighted Average OS | 28.98M | 28.96M | 28.96M | 33.42M | 29.52M | 29.51M | 29.58M | 29.58M | 29.58M | 29.58M | 29.58M | 18.25M | 18.25M | 18.25M |
| EBITDA | $38.64M | $22.53M | $22.39M | $4.55M | -$50.11M | $22.95M | $22.75M | $24.41M | $13.81M | $27.8M | $25.15M | $16.67M | -$17.32M | -$18.43M |
| EBITDA Margin | 144.0% | 106.8% | 87.5% | -113.7% | 94.3% | 93.4% | 92.4% | 62.5% | 162.4% | -956.9% | 85.9% | 86.3% | -47.5% | -88.8% |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | 2020-07-31 | 2019-07-31 | 2018-07-31 | 2017-07-31 | 2016-07-31 | 2015-07-31 | 2014-07-31 | 2013-07-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $5.98M | $8.5M | $16.39M | $18.02M | $2.98M | $2.85M | -$3.88M | $29K | $0 | $0 | $1K | $0 | $0 | $0 |
| Short-Term Investments | $0 | $0 | -$5.41M | -$70.89M | -$170.37M | $0 | $3.88M | $0 | -$111.94M | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $5.98M | $8.5M | $10.99M | -$70.89M | -$170.37M | $2.85M | $3.88M | $29K | -$111.94M | $0 | $1K | $0 | $0 | $0 |
| Accounts Receivable | $6.19M | $6.04M | $6.96M | $6.51M | $7.13M | $7.36M | $13.16M | $8.12M | $8.38M | $8.22M | $8.19M | $5.13M | $5.14M | $6.39M |
| Inventory | $0 | $0 | $0 | $70.89M | $170.37M | $0 | $0 | $0 | $124.01M | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$121K | -$8.5M | $0 | $0 | $0 | $0 | $0 | $421K | $336K | $619K | $330K | $117K | $244K | $5K |
| Total Current Assets | $12.17M | $6.16M | $18.1M | $6.62M | $7.27M | $7.36M | $13.16M | $8.16M | $8.73M | $8.22M | $8.56M | $5.28M | $5.14M | $6.39M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $573.01M | $565.72M | $605.65M | $610.09M | $671.57M | $740.9M | $730.34M | $754.39M | $730.33M | $736.23M | $654.44M | $401.6M | $442.19M | $370.38M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $121K | $116K | $612.62M | -$610.09M | -$170.37M | -$740.9M | -$730.34M | -$754.39M | -$111.94M | -$736.23M | $106.1M | $48.14M | -$442.19M | $62.76M |
| Total Long-Term Assets | $573.13M | $565.72M | $605.65M | $610.09M | $501.2M | $740.9M | $730.34M | $754.39M | $618.39M | $736.23M | $760.55M | $449.74M | $442.19M | $433.14M |
| Other Assets | $0 | $0 | -$10.99M | $0 | $170.37M | $143K | $122K | $505K | $111.94M | $588K | $0 | $0 | $494K | $0 |
| Total Assets | $585.3M | $571.88M | $612.77M | $616.7M | $678.84M | $748.41M | $743.62M | $763.05M | $739.06M | $745.03M | $769.1M | $455.02M | $447.83M | $439.53M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $0 | $0 | $546K | $117K | $2.64M | $1.67M | $1.57M | $1.72M | $1.73M | $2M | $0 | $2.81M | $1.32M | $0 |
| Short-Term Debt | $2K | $3K | $9K | $6.38M | $41.27M | $7K | $0 | $0 | $336K | $0 | $51.23M | $23.49M | $0 | $34.88M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $351K | -$117K | -$41.27M | $1.66M | -$39.8M | -$62.8M | -$336K | -$50.32M | $0 | $0 | -$22.17M | $0 |
| Other Current Liabilities | $0 | $285K | $996K | -$7.42M | -$45.44M | -$2.14M | -$1.87M | -$2.18M | -$3.14M | -$2.61M | $2M | $1.31M | -$1.51M | $1.71M |
| Total Current Liabilities | $2K | $622K | $2.25M | $6.88M | $47.09M | $1.67M | $1.57M | $1.72M | $62.64M | $2M | $53.68M | $27.89M | $1.32M | $36.59M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $231.59M | $231.58M | $231.56M | $51K | $272.81M | $272.77M | $272.86M | $0 | $0 | $821K | $231.46M | $144.6M | $0 | $144.6M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $2.05M | $0 | -$231.56M | -$51K | -$272.81M | -$272.77M | -$272.86M | $0 | $0 | -$821K | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $233.64M | $231.58M | $231.56M | $231.65M | $231.54M | $231.51M | $231.5M | $231.49M | $231.48M | $821K | $231.46M | $144.6M | $1.32M | $144.6M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | -$231.51M | -$231.5M | -$231.49M | $0 | $284.32M | $0 | $0 | $167.05M | $0 |
| Total Liabilities | $233.64M | $232.2M | $233.82M | $238.53M | $278.63M | $1.67M | $1.57M | $1.72M | $294.12M | $287.15M | $285.13M | $172.49M | $169.68M | $181.19M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $401.15M | $402.99M | $409.27M | $413.41M | $418.19M | $418.12M | $418.13M | $419.03M | $419.04M | $419.05M | $421.04M | $261.31M | $261.34M | $261.35M |
| Retained Earnings | -$49.49M | -$63.31M | -$30.32M | -$35.24M | -$17.99M | $55.34M | $50.62M | $45.34M | $674K | $1.6M | $62.93M | $21.22M | $2.37M | -$3.01M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $25.24M | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $25.24M | $37.24M | $0 | $0 | $14.43M | $0 |
| Total Equity | $351.66M | $339.68M | $378.95M | $378.17M | $400.21M | $473.46M | $468.75M | $464.37M | $444.95M | $457.89M | $483.97M | $282.53M | $278.14M | $258.34M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $585.3M | $571.88M | $612.77M | $616.7M | $678.84M | $475.13M | $470.32M | $466.09M | $739.06M | $745.03M | $769.1M | $455.02M | $447.83M | $439.53M |
| Supplementary Data | ||||||||||||||
| Total Debt | $231.59M | $231.58M | $231.57M | $51K | $272.81M | $272.78M | $272.86M | $296.01M | $336K | $821K | $282.68M | $168.09M | $168.09M | $179.48M |
| Net Debt | $225.61M | $223.08M | $215.18M | -$17.97M | $269.83M | $269.93M | $276.74M | $295.98M | $336K | $821K | $282.68M | $168.09M | $168.09M | $179.48M |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | 2020-07-31 | 2019-07-31 | 2018-07-31 | 2017-07-31 | 2016-07-31 | 2015-07-31 | 2014-07-31 | 2013-07-31 |
| Operating Activities | ||||||||||||||
| Net Income | $30.73M | -$20.79M | $18.32M | -$4.34M | -$53.51M | $24.25M | $22.77M | $37.79M | $8.09M | -$3.32M | $50.57M | $20.1M | $36.17M | -$20.21M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | -$145K | -$72K | $535K | $623K | $234K | $154K | $606K | $256K | -$190K | $3K | $477K | $4K | -$381K | $208K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $2K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$15K | $8K | -$22K | -$329K | $211K | $51K | -$10K | $7K | -$302K | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$43K | $213K | -$137K | -$339K | $303K | -$63K | -$740K | $381K | -$155K | $152K | -$358K | $148K | -$268K | -$74K |
| Total Working Capital Change | -$203K | $141K | $398K | $284K | $537K | $144K | -$144K | $644K | -$345K | $155K | $119K | $152K | -$649K | $134K |
| Other Non-Cash Items | -$14.06M | $40.38M | $3.99M | $3.89M | $72.68M | -$4.92M | $18.41M | -$24.06M | $5.9M | $24.32M | -$45.01M | -$4.5M | -$7.68M | $31.01M |
| Net Cash from Operating | $16.46M | $19.73M | $22.71M | $54.07M | $19.71M | $19.47M | $41.04M | $14.37M | $13.64M | $21.15M | $5.67M | $15.76M | $27.84M | $10.94M |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | -$5 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$90.18M | -$220.2M | -$164.74M | -$232.81M | -$156.05M | -$61.17M | -$68.06M | -$114.6M | -$69.36M | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $88.45M | $216.39M | $158.31M | $286.07M | $152.15M | $54.9M | $93.51M | $107.82M | $56.09M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $12.86M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$1.73M | -$3.82M | $6.43M | $53.25M | -$3.9M | -$6.27M | $25.45M | -$6.78M | -$13.28M | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | - | - | $42K | -$51K | - | $93K | - | - | - | -$821K | - | - | $7K | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | -$2.84M | -$3.28M | $0 | $0 | -$887K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | -$19.73M | -$13.5M | -$15.91M | -$19.75M | -$19.39M | -$17.44M | -$18.46M | -$21.38M | -$22.76M | -$22.99M | -$15.77M | -$16.45M | -$16.26M |
| Other Financing Activities | $11K | $10K | -$6.32M | -$34.92M | $35K | $9K | -$23.16M | $4.2M | $7.52M | $785K | $12.96M | $10K | -$11.38M | $5.31M |
| Net Cash from Financing | -$17.25M | -$19.73M | -$22.71M | -$54.07M | -$19.71M | -$19.47M | -$41.49M | -$14.26M | -$13.86M | -$21.15M | -$10.03M | -$15.76M | -$27.84M | -$10.94M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | -$25.45M | $6.78M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$2.52M | -$7.89M | -$1.63M | $15.04M | $126K | -$6.27M | -$445K | $109K | -$218K | -$1K | -$4.36M | $0 | $0 | $0 |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $16.46M | $19.73M | $22.71M | $54.07M | $19.71M | $19.47M | $41.04M | $14.37M | $13.64M | $21.15M | $5.67M | $15.76M | $27.84M | $10.94M |
| Capital Expenditure | -$3 | $0 | $4 | -$5 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $16.46M | $19.73M | $22.71M | $54.07M | $19.71M | $19.47M | $41.04M | $14.37M | $13.64M | $21.15M | $5.67M | $15.76M | $27.84M | $10.94M |
| Cash at Beginning | $8.5M | $16.39M | $18.02M | $2.98M | $2.85M | $9.12M | $445K | $336K | $554K | $1K | $4.36M | $0 | $0 | $0 |
| Cash at End | $5.98M | $8.5M | $16.39M | $18.02M | $2.85M | $2.85M | $0 | $445K | $336K | $0 | $1K | $0 | $0 | $0 |