Cream butter in small bowl using a fork or electric mixer.
Gradually blend in other butter ingredients. Butter mixture can be used while still soft; or it can be rolled into a cylinder in parchment paper or plastic wrap and refrigerated or frozen, then sliced into thin rounds.
Flavored butter can be stored a couple days in the refrigerator or it can be frozen for several weeks.
Pound chicken breasts to an even thickness. Season with salt and pepper.
Grill or broil chicken breasts until browned. Chicken is done when juices run clear and it is no longer pink inside.
Place 1 Tablespoon of smoked paprika butter on each chicken breast and serve.