"I do not like rice with chicken."
Translation:Ik houd niet van rijst met kip.
Yes, it is. Both 'hou' and 'houd' are correct. The difference is that 'houd' is a little more formal and can be nicer to read in specific sentences. 'Houd uw stad schoon' instead of 'Hou uw stad schoon'. 'Keep your city clean'.
On the other hand, writing 'houd' instead of 'jou' can make a sentence sound a lot more unnatural. For example: 'Ik houd van hou', while theoretically correct, sounds way more unnatural than 'Ik hou van jou'. 'I love you'.
You'll most likely come across and want to use 'hou' more than 'houd'.