Prep the pot: Add broth, olive oil, salt, pepper, garlic powder, onion powder, paprika, and bay leaf to a medium pot. Stir to combine.
Add the chicken: Place chicken breasts in a single layer.
The liquid should come about halfway up the sides. Add a splash more water if needed.
Simmer gently: Bring to a light simmer over medium heat. Cover, reduce heat to low, and cook 12–16 minutes, depending on thickness.
Check doneness: Chicken is done at an internal temperature of 165°F (74°C).
If not there yet, cook a few more minutes.
Rest and shred: Remove chicken to a plate and rest 5 minutes. Shred with two forks (or use a mixer on low for 20–30 seconds).
Moisten and brighten: Return shredded chicken to the pot with 2–4 tablespoons of the cooking liquid. Squeeze in lemon juice.
Toss to coat and taste for seasoning.
Serve or store: Use right away, or cool completely before refrigerating or freezing.