It is a decimal that represents a portion of an annual yield a company earned in a day. It is often reported with the current annual yield figures and it can be translated to the current yield by multiplying it by 365. For example, the current annual yield of the company is 5.35% and it will be shown on a daily factor like (.0535/365) or .000146575. It may be a small amount but many companies and institutions provide this calculation because the larger the pool of invested assets becomes, the meaningful a daily factor will be. It is also shown in the treasury bond quotes.