Preheat oven to 400 degrees F. Spray a 13 x 9" baking dish with cooking spray.
Place the butter in the prepared baking dish and place in oven until butter is melted. Remove from oven. Season chicken breasts with salt and pepper; place skin side down in melted butter. Bake for 15 minutes and remove from oven. Lower oven temperature to 350 degrees F.
Meanwhile, heat chicken broth and poultry seasoning to a simmer. Remove browned chicken from baking dish and add the heated broth to the baking dish, scraping up browned bits from bottom. Add the rice to the broth; stir. Place chicken breasts skin side up on top of rice, sprinkle with paprika, if desired.
Return baking dish to oven and cook 45 – 60 minutes until chicken is done and all liquid is absorbed by rice.