Preheat the oven to 375 degrees F. Spray a 9x13 baking dish with nonstick cooking spray.
Add the uncooked instant white rice, chicken broth, mixed vegetables, cream of chicken soup, ranch seasoning, garlic powder, and onion powder to the baking dish. Stir well to combine. Gently stir in the shredded chicken.
Cover tightly with aluminum foil and bake for 30-35 minutes, or until the rice is tender.
Remove the foil and sprinkle the reduced-fat cheddar cheese over the top.
Return the dish to the oven uncovered for 5-10 minutes, until the cheese is melted.
Let it stand for 5 minutes before serving.