Add the rice and stir until coated. Sprinkle with the salt, pepper, and thyme.
Carefully, pour in the broth, increase heat, and bring to a boil.
As soon as the mixture boils, remove from the heat, cover, and bake for 45 minutes or until the broth is absorbed.
Remove from the oven and allow to sit, covered, for 10 minutes before serving.
Notes
If using a can of broth, this will be just under 2 cups. You can make up the difference with water (or even white wine if you have some on hand) so as not to open a second can for the quarter cup or so still needed.
If you do not thyme on hand, the rice will still be delicious without. You could also substitute Italian seasoning or an herb of choice.