Pat the chicken pieces dry with paper towels. Season both sides generously with salt, black pepper, garlic powder, onion powder, paprika, thyme, and parsley.
Preheat the oven to 375°F (190°C).
Lightly grease a large oven-safe baking dish. Add the uncooked rice, chopped onion, minced garlic, parsley, paprika, pepper, and salt. Pour the chicken broth over the rice and stir gently to distribute everything evenly.
Cut the stick of butter into several pieces and distribute them evenly over the top of the rice mixture. The butter will melt during baking and enrich the rice with a deep, savory flavor.
Arrange the seasoned chicken pieces evenly over the rice. Drizzle the chicken with the olive oil.
Keeping the dish covered is important because the trapped steam helps cook the rice evenly.
Remove the foil carefully. Continue baking uncovered for another 10–20 minutes, or until the chicken reaches an internal temperature of 165°F (74°C) and the rice is tender.
Remove the dish from the oven and let it rest for 5–10 minutes. This allows the rice to finish absorbing the flavorful liquid and gives the chicken time to retain its juices.
Fluff the rice gently with a fork. Garnish with fresh parsley and a little freshly cracked black pepper. Serve warm.