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Simply put this is the maximum available output of the microphone before clipping or distortion.
The voltage is given as a dBu measurement (0dBu = 0.775V) with a THD (total harmonic distortion) percentage of 1% being driven into a 1k ohm load. The higher the voltage (dBu reading) the more output the mic will give you so the less you will need to amplify the signal at the mixer end.